ADC Therapeutics Announces $105 Million Offering of Shares and Warrants

May 6, 2024 – ADC Therapeutics SA (NYSE: ADCT) has announced an underwritten offering, involving the sale of 13,411,912 common shares at $4.900 each. Additionally, certain investors can opt for pre-funded warrants instead of common shares, enabling them to purchase 8,163,265 common shares at $4.812 per warrant. This price is the offering price per common share minus the exercise price. The gross proceeds from this operation, before subtracting underwriting discounts and expenses, are expected to be approximately $105 million. The closing date is anticipated to be May 8, 2024, conditioned on typical closing requirements.

Jefferies, Guggenheim Securities, and Cantor are operating as joint book-running managers for this offering. A registration statement for these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on March 14, 2024. Preliminary prospectus supplements associated with the offering have also been filed with the SEC and are accessible via the SEC's website. Final prospectus supplements and accompanying prospectuses will be available on the SEC’s website once filed. Copies of these documents can be obtained for free from Jefferies LLC, Guggenheim Securities, LLC, or Cantor Fitzgerald & Co. at their respective addresses or emails, as specified.

This announcement is not intended to be an offer to sell or a solicitation to buy these securities, nor will there be any sales of these securities in jurisdictions where such activities would be illegal before registration or qualification under the local securities laws. ADC Therapeutics does not plan to offer or advertise these securities in Switzerland in accordance with the Swiss Financial Services Act (FinSA), and these securities will not be listed or traded on the SIX Swiss Exchange or any other regulated trading venue in Switzerland. Additionally, this document and any related marketing materials do not constitute a prospectus under FinSA and should not be publicly distributed in Switzerland.

ADC Therapeutics (NYSE: ADCT) is a biotech company at a commercial stage, focusing on advanced antibody drug conjugates (ADCs) to enhance the treatment of cancer patients. The company’s proprietary ADC technology targets hematologic malignancies and solid tumors. Their CD19-directed ADC, ZYNLONTA (loncastuximab tesirine-lpyl), has received accelerated approval from the FDA and conditional approval from the European Commission for treating relapsed or refractory diffuse large B-cell lymphoma after at least two previous systemic therapies. ZYNLONTA is also being tested in combination with other treatments and in earlier therapy stages.

In addition to ZYNLONTA, ADC Therapeutics is developing several other ADCs in both clinical and preclinical phases. Headquartered in Lausanne (Biopôle), Switzerland, the company also has operations in London and New Jersey. ZYNLONTA® is a registered trademark of ADC Therapeutics SA.

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