March 16, 2025

The definition of mortgage matures for the and you can accrues desire within an annual speed regarding protected full capital rates (SOFR) plus eight

Wednesday, 10 July 2024 by

Pursuant with the financing and you will warranty arrangement, the company accomplished a first drawdown off $120 million on the ount was applied from the Business to cover the cash planning included in the payment out-of Deerfield’s older secure modifiable cards

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LAUSANNE, Switzerland, –(Business Cable)–ADC Therapeutics SA (NYSE: ADCT) now established this features finished a few strategic deals where they:

(“Owl Stone”), and you can money handled of the Oaktree Financing Management, L.P. (“Oaktree”) having an upfront tranche regarding $120 mil acquired abreast of closure today;

Paid completely this new $115 million aggregate dominating quantity of elder secured modifiable cards stored from the Deerfield Management Team (“Deerfield”) due having (i) $117.3 million into the cash including the contractual leave commission for the dominating repayment, (ii) 2,390,297 prominent offers everything equal to the worth of the rest desire owed on convertible debenture with the prevent regarding title, and you will (iii) is deserving of to get a keen aggregate off cuatro,412,840 common offers on do it cost of $ and you can $ for each and every show;

Registered towards a share purchase contract which have specific finance of Owl Material, a department out of Blue Owl Capital Inc., to possess an investment away from $six.twenty five million to have 733,568 well-known offers.

“Our company is thrilled to enter into it arrangement having Owl Stone and you can Oaktree, new continues of which will be used to spend the money for cash consideration about replace of your secured modifiable borrowing cards held by the Deerfield,” said Ameet Mallik, Chief executive officer out-of ADC Therapeutics. “Brand new financial obligation studio features a phrase from 7 age and you may allows us to continue enhancing the potential of ZYNLONTA and you will advancing our very own pipe from book antibody medication conjugates for hematologic malignancies and you can solid cancers.

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