On February 2, 2023 ADC Therapeutics SA ("ADCT" or the "Company") (NYSE: ADCT), a commercial-stage biotechnology company helping to improve the lives of those affected by cancer with its next-generation, targeted antibody drug conjugates, reported the pricing of an underwritten offering of 12,000,000 common shares of the Company currently owned by A.T. Holdings II Sàrl (the "Selling Shareholder"), an affiliate of Auven Therapeutics Holdings L.P., at a price of $5.00 per share (before underwriting discounts and commissions) (Press release, ADC Therapeutics, FEB 2, 2023, View Source [SID1234626806]). ADCT is not selling any common shares and will not receive any proceeds from the sale of the common shares in the offering. The offering is expected to close on February 6, 2023, subject to customary closing conditions.
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The offering included participation from Redmile Group, Perceptive Advisors, Frazier Life Sciences and Surveyor Capital (a Citadel company) along with other institutional investors.
Jefferies is acting as sole book-running manager for the offering.
The offering is being made pursuant to an effective registration statement (including a prospectus) on Form F-3 previously filed with the Securities and Exchange Commission ("SEC"). A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to this offering, when available, may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, telephone: (877) 821-7388, email: [email protected].
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of these securities under the securities laws of any such state or other jurisdiction.