Pursuant into the mortgage and you will guaranty agreement, the firm done an initial drawdown from $120 mil into the ount was applied because of the Business to pay for the cash thought as part of the settlement away from Deerfield’s elder secured convertible cards
LAUSANNE, Switzerland, –(Business Cable)–ADC Therapeutics SA (NYSE: ADCT) today launched so it has actually complete a number of proper transactions where it:
(« Owl Stone »), and loans addressed of the Oaktree Investment Government, L.P. (« Oaktree ») that have an upfront tranche from $120 mil obtained upon closing now;
Paid in full the newest $115 million aggregate prominent level of elderly secured modifiable notes held by the Deerfield Administration Company (« Deerfield ») owed for (i) $117.step 3 million in the bucks such as the contractual exit payment into the principal repayment, (ii) dos,390,297 well-known shares everything comparable to the value of the rest attract due for the convertible debenture on the avoid regarding name, and you can (iii) warrants to acquire a keen aggregate from 4,412,840 prominent offers on exercise prices out-of $ and you will $ for each express;