Allschwil, Switzerland - June 28, 2024
Idorsia Ltd (SIX: IDIA) today announced that it has received the written
decision from the higher cantonal composition authority (obere kantonale
Nachlassbehörde) (the Court) in respect to the approval of the amendments of the
terms of its outstanding convertible bonds originally maturing on July 17, 2024
(ISIN: CH0426820350) decided at the bondholder meeting held on May 6, 2024.
If no appeal is filed within the statutory period of 30 days, the amendments
will be effective, and the company will transfer the consent fee of 8,000 shares
per Bond. Considering the statutory court standstill period of one month, the
end of the 30-day appeal period will be on August 29, 2024. If no appeal is
made, the company expects to transfer the shares on September 5, 2024.
The cut-off date in respect of the consent fee is September 2, 2024, which means
that bondholders holding the Bonds on - or who have purchased the Bonds by -
September 2, 2024, will receive the consent fee. The ex-date in respect of the
consent fee is September 3, 2024, which means that bondholders purchasing the
Bonds on September 3, 2024, will not receive the consent fee.
Notes to the editor
About Idorsia
Idorsia Ltd is reaching out for more - We have more ideas, we see more
opportunities and we want to help more patients. In order to achieve this, we
will develop Idorsia into a leading biopharmaceutical company, with a strong
scientific core.
Headquartered near Basel, Switzerland - a European biotech-hub - Idorsia is
specialized in the discovery, development and commercialization of small
molecules to transform the horizon of therapeutic options. Idorsia has a 25-year
heritage of drug discovery, a broad portfolio of innovative drugs in the
pipeline, an experienced team of professionals covering all disciplines from
bench to bedside, and commercial operations in Europe and North America - the
ideal constellation for bringing innovative medicines to patients.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017
and has over 750 highly qualified specialists dedicated to realizing our
ambitious targets.
For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10 - investor.relations@idorsia.com
(mailto:investor.relations@idorsia.com) - media.relations@idorsia.com
(mailto:media.relations@idorsia.com) - www.idorsia.com (http://www.idorsia.com)
The above information contains certain "forward-looking statements", relating to
the company's business, which can be identified by the use of forward-looking
terminology such as "estimates", "believes", "expects", "may", "are expected
to", "will", "will continue", "should", "would be", "seeks", "pending" or
"anticipates" or similar expressions, or by discussions of strategy, plans or
intentions. Such statements include descriptions of the company's investment and
research and development programs and anticipated expenditures in connection
therewith, descriptions of new products expected to be introduced by the company
and anticipated customer demand for such products and products in the company's
existing portfolio. Such statements reflect the current views of the company
with respect to future events and are subject to certain risks, uncertainties
and assumptions. Many factors could cause the actual results, performance or
achievements of the company to be materially different from any future results,
performances or achievements that may be expressed or implied by such forward-
looking statements. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated, believed,
estimated or expected.
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