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. The team was led by Ariel Ben Hattar and included Vincent Huynh Dac and Alexandra Vraca (all Capital Markets).