ADC Therapeutics launches financial restructuring, lines up $86.6 million PIPE financing
ADC Therapeutics launched a financial restructuring built around an $86.6 million PIPE, extending expected cash runway into 2029. PIPE terms include 12,900,000 common shares at $1.42, pre-funded warrants for 48,100,000 shares at $1.32. HealthCare Royalty agreement amended to remove a $150 million change-of-control paym