ADC Therapeutics announces $100M private placement and restructuring with 30% workforce cut

ADC Therapeutics SA

$100M private placement: 13.03M shares at $3.53 & 15.73M pre-funded warrants at $3.432; close June 16, 2025.
Board approved restructuring to focus on ZYNLONTA and PSMA ADC; discontinue early preclinical solid tumor programs.
UK R&D facility to shut down; global workforce reduced by ~30%; substantially complete by September 30, 2025.
Estimated one-time pre-tax restructuring charges of $6M-$7M, majority recognized in Q2 2025.

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