Lenz & Staehelin advises the underwriters in ADC Therapeutics SA IPO's on the New York Stock Exchange
On May 19, 2020, ADC Therapeutics SA closed its IPO on the New York Stock Exchange (ticker symbol ADCT). ADCT is a late clinical-stage oncology-focused biotechnology company pioneering the development and commercialization of antibody drug conjugates.
Morgan Stanley, BofA Securities and Cowen acted as joint book-running managers for the offering. In this offering, the underwriters placed more than 14 Mio shares in ADCT in the public, including the over-allotment option, at a price of USD 19.00 per share, resulting in gross proceeds for the company of approx. USD 267 Mio.
Lenz & Staehelin advised the underwriters on the Swiss law aspects of the transaction. The team consisted of Jacques Iffland (Partner, Head of Capital Markets Geneva) and Federico Trabaldo Togna (Senior Associate, Corporate and M&A, Capital Markets).