SEC Form 3
FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
|
1. Name and Address of Reporting Person*
(Street)
|
2. Date of Event Requiring Statement
(Month/Day/Year) 01/02/2024 |
3. Issuer Name and Ticker or Trading Symbol
ADC Therapeutics SA [ ADCT ] |
|||||||||||||
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|
5. If Amendment, Date of Original Filed
(Month/Day/Year) |
||||||||||||||
6. Individual or Joint/Group Filing (Check Applicable Line)
|
Table I - Non-Derivative Securities Beneficially Owned | |||
---|---|---|---|
1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Shares, par value CHF 0.08 per share(1)(2) | 15,269,217 | I | See footnotes(1)(2) |
Common Shares, par value CHF 0.08 per share(1)(2) | 12,595,040 | D(2)(3) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
---|---|---|---|---|---|---|---|
1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 1,259,822 | 3.25(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 455,623 | 3.04(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 884,669 | 1.5395(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 15,000 | 4.3833(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 23,891 | 4.3454(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 14,623 | 4.3898(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 20,000 | 4.4099(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 19,286 | 4.4236(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 50,000 | 1.6026(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 44,996 | 1.633(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 75,000 | 1.6363(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 37,429 | 1.7075(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 103,764 | 1.7147(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 108,844 | 2.16(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 15,446 | 3.1972(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 67,547 | 3.3025(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 1,200 | 3.3508(8) | I | See footnotes(1)(2) |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 50,000 | 1.6026(8) | D(2)(3) | |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 44,996 | 1.633(8) | D(2)(3) | |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 75,000 | 1.6363(8) | D(2)(3) | |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 37,429 | 1.7075(8) | D(2)(3) | |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 103,764 | 1.7147(8) | D(2)(3) | |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 108,844 | 2.16(8) | D(2)(3) | |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 15,446 | 3.1972(8) | D(2)(3) | |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 67,547 | 3.3025(8) | D(2)(3) | |
Cash-settled Swaps | (4)(5)(7) | (6) | Common Shares | 1,200 | 3.3508(8) | D(2)(3) |
1. Name and Address of Reporting Person*
(Street)
| ||||||||||||
1. Name and Address of Reporting Person*
(Street)
| ||||||||||||
1. Name and Address of Reporting Person*
(Street)
|
Explanation of Responses: |
1. These securities are directly owned by certain private investment vehicles and sub-advised accounts managed by Redmile Group, LLC ("Redmile"), including RedCo II Master Fund, L.P. ("RedCo II" and collectively with the other private investment vehicles and sub-advised accounts managed by Redmile, the "Redmile Clients"). Redmile may be deemed to beneficially own the reported securities as investment manager of the Redmile Clients. |
2. The reported securities may also be deemed beneficially owned by Jeremy Green as the principal of Redmile. Redmile and Mr. Green (collectively with RedCo II, the "Reporting Persons") disclaim beneficial ownership of the reported securities except to the extent of its and his respective pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. |
3. These securities are directly owned by RedCo II. |
4. Certain Redmile Clients, including RedCo II, are parties to swap agreements with counterparties that provide those Redmile Clients with economic exposure to an aggregate 3,197,140 notional shares. Those swap agreements entered into by RedCo II provide RedCo II with economic exposure to an aggregate 504,226 notional shares. Each notional share subject to each swap agreement represents the economic equivalent of one share of the Issuer's common stock. |
5. These agreements do not give the Reporting Persons direct or indirect voting, investment or dispositive control over any securities of the Issuer and do not require the counterparties thereto to acquire, hold, vote or dispose of any securities of the Issuer. Accordingly, the Reporting Persons disclaim any beneficial ownership in securities that may be referenced in such swap agreements or that may be held from time to time by any counterparties to the agreements. |
6. The Reporting Persons have the right to terminate and close out each swap at any time. |
7. Upon settlement of the various swap agreements, either (i) the counterparty will pay to the Redmile Clients in cash an amount determined in part by reference to any increase between the reference price and the market value of the notional number of shares of Common Stock subject to the swap agreement or (ii) the Redmile Clients will pay to the counterparty in cash an amount determined in part by reference to any decrease between the reference price and the market value of the notional number of shares of Common Stock subject to the swap agreement. |
8. Represents the reference price associated with the swap agreements. |
By: /s/ Jeremy Green, Managing Member of Redmile Group, LLC | 02/09/2024 | |
/s/ Jeremy Green, Managing Member of RedCo II (GP), LLC, the General Partner of RedCo II Master Fund, L.P | 02/09/2024 | |
/s/ Jeremy Green | 02/09/2024 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |