Johnson & Johnson partially converts its convertible loan
27 Octubre 2021 - 12:03PM
Johnson & Johnson partially converts its convertible loan
Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland –
October
27, 2021Idorsia
Ltd (SIX: IDIA) today announced that Cilag Holding AG, an indirect
subsidiary of Johnson & Johnson, notified Idorsia that it will
convert a second tranche of the remaining principal amount of CHF
445 million convertible loan, such that CHF 110 million will be
converted into 9.6 million shares of Idorsia.
As a result of the conversion, Idorsia will issue 9’581’882 new
shares and Idorsia share capital will increase from CHF
8’364’748.55 to CHF 8’843’842.65, divided into 176’876’853
Idorsia shares.
As a result of conversion of the second tranche of the
convertible loan, Cilag Holding AG will hold 5.7% of Idorsia’s
issued share capital. Following conversion, the remaining principal
amount of the convertible loan will be CHF 335 million, convertible
into 29.1 million shares of Idorsia.
Notes to the editor
About the convertible loanOn June 15, 2017,
Cilag Holding AG (“Cilag”) provided a loan of CHF 580 m to Idorsia,
which was convertible into ordinary shares of Idorsia up to an
aggregate of 32% of the share capital at the time that the loan was
provided. The loan does not carry interest, has a term of 10 years
and matures on June 15, 2027.
On June 19, 2017, a first tranche of the convertible loan of CHF
135 m was mandatorily converted and Cilag acquired 11,793,220 of
the shares of Idorsia. These shares were sold by Cilag in a
secondary offering on July 8, 2020.
About IdorsiaIdorsia 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 broad portfolio of innovative
drugs in the pipeline, an experienced team of professionals
covering all disciplines from bench to bedside, state-of-the-art
facilities, and a strong balance sheet – the ideal constellation to
translate R&D efforts into business success.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol:
IDIA) in June 2017 and has over 1,000 highly qualified specialists
dedicated to realizing our ambitious targets.
For further information, please contactAndrew
C. WeissSenior Vice President, Head of Investor Relations &
Corporate CommunicationsIdorsia Pharmaceuticals Ltd,
Hegenheimermattweg 91, CH-4123 Allschwil+41 58 844 10
10investor.relations@idorsia.com – media.relations@idorsia.com –
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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