NKF advised Idorsia in completing CHF 330m private placement of 11m shares

Idorsia, a Swiss biopharmaceutical company, completed a private placement with institutional investors of 11m new registered shares, corresponding to 8.4% of its currently issued share capital, issued out of its authorized share capital by way of an accelerated bookbuilding process. The shares were placed at CHF 30.00 per share, resulting in gross proceeds of CHF 330m. The net proceeds will be used by Idorsia to prepare to launch its first commercial products and to continue to fund the development of its other pipeline candidates. The new shares were admitted to trading on SIX Swiss exchange on 22 May 2020. Credit Suisse and Barclays Bank plc acted as joint bookrunners in connection with the offering.

The Team 

NKF acted as legal advisor to Idorsia. The team was led by partner Philipp Haas (capital markets – pictured) working with senior associates Andrea Giger and Deirdre Ni Annrachain (both capital markets and corporate) and associates Katalin Siklosi  and Shu Bernet-Zhang (both corporate).