The word loan matures towards the and you will accrues desire at the an annual rate away from shielded overall financing price (SOFR) together with seven
Pursuant for the financing and you will guarantee arrangement, the business accomplished an initial drawdown of $120 million for the ount was applied because of the Team to fund the bucks attention as part of the settlement out of Deerfield’s senior safeguarded modifiable cards
LAUSANNE, Switzerland, –(Company Cord)–ADC Therapeutics SA (NYSE: ADCT) now revealed this provides complete a series of strategic deals where it:
(“Owl Stone”), and you will financing managed by Oaktree Funding Management, L.P. (“Oaktree”) that have an upfront tranche from $120 mil gotten abreast of closing today;
Settled in full the fresh new $115 million aggregate principal quantity of elder secure convertible cards held because of the Deerfield Administration Organization (“Deerfield”) owed having (i) $117.step three million from inside the dollars like the contractual get-off fee into the dominant repayment, (ii) 2,390,297 prominent shares around equal to the value of the remainder appeal due toward modifiable debenture with the avoid from identity, and you can (iii) deserves to acquire an aggregate off cuatro,412,840 preferred shares from the get it done prices of $ and you will $ for each share;
