ADC Therapeutics Raises $100M in Private Stock Deal of 13M Shares at $3.5/Share And Warrants To Purchase 15.7M Shares At $3.43/Pre-funded Warrant to Boost Cancer Drug Development

ADC Therapeutics SA (NYSE:ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today announced that it has entered into securities purchase agreements for the sale of its equity securities to certain institutional investors in a $100.0 million private investment in public equity ("PIPE") financing. In the PIPE, ADC Therapeutics is selling 13.0 million common shares at $3.53 per share and pre-funded warrants to purchase 15.7 million common shares at $3.43, per pre-funded warrant, which is the price per common share in the PIPE minus the exercise price of CHF 0.08 per pre-funded warrant.

 

Gross proceeds from the PIPE financing are anticipated to be approximately $100.0 million before deducting placement agent fees and offering expenses. The PIPE is expected to close on June 16, 2025, subject to customary closing conditions. ADC Therapeutics intends to use the net proceeds from the PIPE to fund multiple catalysts primarily in support of ZYNLONTA® clinical development as well as ZYNLONTA commercialization activities, working capital and general corporate purposes.