Ad hoc announcement pursuant to Art. 53 LR
- The proposed amendments to the terms of the 2025 convertible bond have been approved by the bondholders and will become binding and effective upon approval by the higher cantonal composition authority.
Allschwil, Switzerland - February 25, 2025
Idorsia Ltd. (SIX: IDIA) today announced the positive outcome of a bondholders' meeting held at 17:30 CET on February 25, 2025. The bondholders' meeting for holders of Idorsia's outstanding 2025 convertible bonds (ISIN: CH0426820350) (the Bonds) was held to vote on the extension of the maturity of the Bonds until September 17, 2025. 79.0% of the total outstanding bondholders voted in favor of the amendments proposed by Idorsia - significantly exceeding the required two thirds majority threshold.
Approving an extension of the maturity of the Bonds was the first step in a larger holistic restructuring to provide the time required for its implementation.
The amendments to the Bond terms will become binding and effective upon approval by the higher cantonal composition authority (obere kantonale Nachlassbehörde).
Notes to the editor
About Idorsia
Idorsia Ltd is reaching out for more - we have more passion for science, we see more opportunities, and we want to help more patients.
The purpose of Idorsia is to challenge accepted medical paradigms, answering the questions that matter most. To achieve this, we will discover, develop, and commercialize transformative medicines - either with in-house capabilities or together with partners - and evolve Idorsia into a leading biopharmaceutical company, with a strong scientific core.
Headquartered near Basel, Switzerland - a European biotech hub - Idorsia has a highly experienced team of dedicated professionals, covering all disciplines from bench to bedside; QUVIVIQ (daridorexant), a different kind of insomnia treatment with the potential to revolutionize this mounting public health concern; strong partners to maximize the value of our portfolio; a promising in-house development pipeline; and a specialized drug discovery engine focused on small-molecule drugs that can change the treatment paradigm for many patients. Idorsia is listed on the SIX Swiss Exchange (ticker symbol: IDIA).
For further information, please contact
Investor & Media Relations
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.com - 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.
Attachment
- Press Release PDF (https://ml-eu.globenewswire.com/Resource/Download/ac5b3134-6ddb-4843-b8b8-73785429a21e)
