Financing ·
ADC Therapeutics raises $86.6M in PIPE, reduces debt to $50M and amends royalty agreement
ADCTADC Therapeutics SA
ADC Therapeutics SA entered into a $86.6 million private placement of common shares and pre-funded warrants at $1.42 per share, with proceeds expected by October 22, 2026. Concurrently, the company prepaid $70 million of its senior secured term loan, reducing outstanding principal to $50 million and eliminating minimum liquidity covenants. The firm also amended its HealthCare Royalty agreement, removing a change-of-control payment obligation and establishing buyout options at $525 million or $750 million. Additionally, the company reported preliminary third-quarter ZYNLONTA net product revenues of approximately $21.0 million and cash holdings of $189.2 million as of September 30, 2026. ADC Therapeutics is a commercial-stage global leader in antibody drug conjugates (ADCs) focused on treating B-cell malignancies.