Lenz & Staehelin advised the underwriters in ADC Therapeutics’ follow-on offering on the NYSE

ADC Therapeutics, a Swiss-based late clinical-stage oncology-focused biotechnology company pioneering the development and commercialization of antibody drug conjugates, announced the pricing of its upsized follow-on public offering of shares in the United States, thus raising gross proceeds of approx. USD 204 million. In addition, certain existing shareholders had granted the underwriters an option to purchase additional shares  for an aggregate amount of up to USD 30.6 million.

Morgan Stanley, BofA Securities and Cowen were acting as joint book-running managers for the offering. RBC Capital Markets was acting as co-manager for the offering.

The advisors

Lenz & Staehelin advised the underwriters on the Swiss law aspects of the transaction. The team was led by partner Jacques Iffland (Head of Capital Markets Geneva – pictured) and included senior associates Federico Trabaldo Togna (Corporate and M&A, Capital Markets), Ralph Kaufmann (Corporate and M&A) and Jenny Benoit-Gonin (Tax)

As previously reported by Legalcommunity.ch, Homburger advises ADC Therapeutics in this transaction. The team is led by partner Dieter Gericke (Corporate/M&A) and includes lead associate Daniel Häusermann (Corporate/ M&A), partners Reto Heuberger (Tax) and Benjamin Leisinger (Banking and Finance), as well as associates Olivier Baum (Banking and Finance), Estelle Piccard (Corporate/M&A) and Marc Vogelsang (Tax).