Idorsia announces the results of its rights offering in the context of the capital increase

•      The capital increase by way of an at-market rights offering now moves to the bookbuilding process for up to 7,974,681 shares

Allschwil, Switzerland – October 20, 2020
Idorsia Ltd (SIX: IDIA) today announced that in the context of its capital increase by way of an at-market rights offering, rights have been exercised for 15,825,319 new shares, corresponding to 66.5% of the maximum number of up to 23,800,000 new shares offered in the rights offering.

The up to 7,974,681 shares not taken up by existing shareholders in the rights offering are being offered to investors by way of a public offering in Switzerland and to qualified investors by way of private placements in certain jurisdictions outside Switzerland and the United States of America (the “United States” or “US”) pursuant to Regulation S of the US Securities Act of 1933, as amended (the “Securities Act”) and in the United States to qualified institutional buyers as defined in Rule 144A of the Securities Act pursuant to an exemption from the registration requirements of the Securities Act (the “International Offering”).

Idorsia’s principal shareholders, Jean-Paul and Martine Clozel, have exercised their rights in order to maintain their current shareholding of 28.4% in Idorsia. They may also participate in the International Offering and potentially increase their shareholding up to 30%.

The book for the International Offering is currently open. The offer price in the rights offering and for the International Offering will be determined following the end of the bookbuilding period. As contemplated in the offering and listing prospectus, Idorsia intends to end the bookbuilding period earlier than previously communicated: The close of the bookbuilding period as well as the offer price are expected before the opening of SIX Swiss Exchange on October 21, 2020.

The listing according to the International Reporting Standard of SIX Swiss Exchange, first trading day, settlement and delivery of the new shares is expected to be on October 23, 2020.

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 one of Europe’s leading biopharmaceutical companies, with a strong scientific core.

Headquartered in Switzerland - a biotech-hub of Europe - Idorsia is specialized in the discovery and development of small molecules, to transform the horizon of therapeutic options. Idorsia has a broad portfolio of innovative drugs in the pipeline, an experienced team, a fully-functional research center, and a strong balance sheet – the ideal constellation to bringing R&D efforts to business success.