Lenz & Staehelin: Jefferies underwriter for ADC’s public offering of shares

Lenz & Staehelin has advised investment bank Jefferies as underwriter in the public offering of shares of the Lausanne based ADC Therapeutics, a commercial-stage biotechnology company helping to improve the lives of those affected by cancer and listed on the New York Stock Exchange.

There were 12M shares sold at a price of USD 5 per share, resulting in a total deal value of USD 60M. The shares were sold by a shareholder and not by ADC. The offering included participation from Redmile Group, Perceptive Advisors, Frazier Life Sciences and Surveyor Capital (a Citadel company) along with other institutional investors. Jefferies acted as sole book-running manager for the offering.

The Lenz & Staehelin team included partner and head of capital markets Jacques Iffland (pictured left) and partner Ariel Ben Hattar (capital markets and fintech, pictured right).