secwatch.observer — SEC 8-K summary
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Issuer:     ADC Therapeutics SA (ADCT)
CIK:        0001771910
Form:       8-K
Filed at:   2025-06-12T23:59:59+00:00
Accession:  0000950103-25-007282
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.05, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1771910/000095010325007282/0000950103-25-007282-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1771910/000095010325007282/dp230070_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-007282

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer