Deals & Cases
Lenz & Staehelin advised the underwriters in ADC Therapeutics SA's follow-on offering on the NewYork Stock Exchange
On September 23, 2020, ADC Therapeutics SA (ticker symbol ADCT), 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 ("greenshoe") 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.
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) and included senior associates Federico Trabaldo Togna (Corporate and M&A, Capital Markets), Ralph Kaufmann (Corporate and M&A) and Jenny Benoit-Gonin (Tax).