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ADC Therapeutics Announces $ 267 Million Enhanced Public Addition Closure and $ 65 Million Receipt from First Tranche under the $ 115 Million Conversion Credit Facility with Deerfield | Business | Instant News

LAUSANNE, Switzerland – (KAWAT BUSINESS) – May 19, 2020–

ADC Therapeutics SA (NYSE: ADCT), the final biotech company focusing on oncology that pioneered the development and commercialization of a very strong and targeted antibody drug conjugate for patients suffering from haematological malignancies and solid tumors, today announced the closing of the initial public offering of 14,082,475 common shares at a price of $ 19.00 per share, which includes full exercise by the option guarantor to buy 1,836,844 additional ordinary shares. The gross proceeds of the offer, before deducting discounts and underwriting commissions and the estimated bid costs to be paid by ADC Therapeutics, are around $ 267.6 million. Stocks begin trading on the New York Stock Exchange on May 15, 2020 under the ticker symbol “ADCT.”

Morgan Stanley, BofA Securities and Cowen acted as joint bookkeeping managers for the offer.

This offer is made only with prospectuses. Copies of the prospectus related to the offer can be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, Level 2, New York, NY 10014, by telephone at (866) 718-1649 or by email at [email protected]; BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at dg.prospectus—[email protected]; or Cowen and Company, LLC, c / o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (833) 297-2926 or by email at [email protected].

A registration statement related to this security has been submitted, and declared effective by, the US Securities and Exchange Commission. This press release does not constitute an offer to sell or request an offer to buy this security, nor may there be a sale of this security in any state or jurisdiction where the offer, request or sale would violate the law before registration or qualification under the state securities laws that section or jurisdiction. There is no intention or permission to openly offer, request, sell or advertise, directly or indirectly, the securities of ADC Therapeutics SA, such as ordinary shares, in or to Switzerland in the sense of the Swiss Financial Services Act (“FinSA”) and These securities will not be registered or recognized for trading on the SIX Swiss Exchange or at other regulated trading places (exchanges or multilateral trading facilities) in Switzerland. Neither this document nor other offering or marketing material related to this security, such as ordinary shares, is or will be a prospectus in accordance with FinSA, and this document or other offerings or marketing material related to ordinary shares are not a prospectus in accordance with FinSA, and neither this document nor other offers or marketing material relating to ordinary shares may be distributed publicly or made publicly available in Switzerland.

In addition, ADC Therapeutics today announced the receipt of an initial disbursement of $ 65.0 million, before reducing costs and fees to be paid by ADC Therapeutics, a long-term loan that can be converted with collateral under the Convertible Credit Facility announced earlier with Deerfield Partners, LP and several of its affiliates (collectively, Deerfield) and issuance to Deerfield of $ 65.0 million in aggregate principal amounts from guaranteed convertible notes.

ADC Therapeutics SA (NYSE: ADCT) is a late stage biotechnology company that focuses on oncology that pioneered the development and commercialization of antibody drug conjugates (ADCs) that are very strong and targeted for patients suffering from haematological malignancies and solid tumors. The company developed the ADC by applying its decades of experience in this field and using a new generation of pyrrolobenzodiazepine (PBD) technology for which ADC Therapeutics has ownership rights to its targets. The selection of strategic targets for PBD-based ADCs and large investments in early clinical development have enabled ADC Therapeutics to establish clinical pathways and in-depth research from therapies for the treatment of hematological tumors and solid cancers with significant unmet needs. The company has several PBD-based ADCs in ongoing clinical trials, ranging from the first in humans to the crucial phase 2 clinical trials, in the US and Europe, and a number of preclinical ADCs in development.

Loncastuximab tesirine (Lonca, formerly ADCT-402), the Company’s main product candidate, has been evaluated in 145-important phase-critical clinical trials for the treatment of recurrent or refractory large B cell lymphoma (DLBCL) which shows a 45.5% overall response rate while (ORR), which exceeds the target’s primary endpoint. Camidanlumab tesirine (Cami, formerly ADCT-301), the Company’s second major product candidate, is being evaluated in an important 100-patient phase-100 clinical trial for the treatment of recurring or refractory Hodgkin’s lymphoma (HL) after experiencing 86.5% ORR in HL patients in Phase 1 clinical trials The company is also evaluating Cami as a new immuno-oncology approach for the treatment of various advanced solid tumors.

ADC Therapeutics is based in Lausanne (BiopĂ´le), Switzerland and operates in London, the San Francisco Bay Area and New Jersey.

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SOURCE: ADC Therapeutics SA

Copyright Business Wire 2020.

PUB: 05/19/2020 04:51 PM / DISC: 05/19/2020 04:51 PM

Copyright Business Wire 2020.


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