Tag Archives: CapLaw-2020-63

Idorsia’s CHF 535.5 Million At-market Rights Offering

On 21 October 2020, Idorsia announced that it completed its at-market rights offering consisting of a of 23,800,000 new shares. 15,825,319 new shares were subscribed to by existing shareholders in the rights offering and 7,974,681 new shares were placed with investors in the bookbuilding process. Idorsia expects to raise gross proceeds of CHF 535.5m based on the offer price of CHF 22.50 per new share. Idorsia will use the net proceeds of approximately CHF 520 million from the capital increase to support the regulatory filing and, if approved, commercial launch of daridorexant and to fund the further development of its diversified pipeline.