ADC Therapeutics raises USD 105 million in underwritten offering

On May 6, 2024, NYSE-listed ADC Therapeutics SA, a commercial-stage biotechnology company based in Lausanne, Switzerland, announced that it had agreed to sell, by way of an underwritten offering, 13.4 million of its common shares as well as pre-funded warrants to purchase 8.1 million common shares to raise aggregate gross proceeds of approx. USD 105 million.

Jefferies, Guggenheim Securities and Cantor were acting as joint book-running managers for the offering.

Lenz & Staehelin advised the underwriters on the Swiss law aspects of the transaction.