Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland - August 11, 2025
Idorsia Ltd (SIX: IDIA) announces the interim results of the repurchase offer for its outstanding CHF 204* million convertible bonds maturing in 2025 (CB 2025; ISIN CH0426820350) and CHF 600 million convertible bonds maturing in 2028 (CB 2028; ISIN CH1128004079) (the Repurchase Offer) launched (https://www.idorsia.com/investors/news-and-events/media-releases/media-release-details?id=3477937) on June 25, 2025.
As of the end of the main offer period, Bondholders have accepted the Repurchase Offer for the CB 2025 with an aggregate nominal value of CHF 185'388'000, corresponding to 90.88% of the total issued nominal value of the CB 2025, and for the CB 2028 with an aggregate nominal value of CHF 561'800'000, corresponding to 93.63% of the total issued nominal value of the CB 2028, well exceeding the minimum acceptance rate of 85% each.
An additional acceptance period of five trading days for the subsequent acceptance of the Repurchase Offer will begin on August 12, 2025, and end at 17:30 CEST on August 18, 2025.
The settlement of the Repurchase Offer is currently expected to take place on or about August 26, 2025, subject to the satisfaction or waiver of certain offer conditions.
The notice of the interim results and all other documentation in relation to the Repurchase Offer (the Repurchase Offer Documentation) can be found at the following link: www.idorsia.com/exchange-offer (https://www.idorsia.com/exchange-offer).
* The total nominal value of the CB 2025 was increased from CHF 200,000,000 to CHF 204,000,000 as of July 17, 2025.
Notes to the editor and legal notes
About Idorsia
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
Legal Notice and Information
The above information contains or may contain 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.
The information contained in this media release is for information purposes only and does not constitute, or form part of, an offer or invitation to purchase, sell, exchange or issue, or a solicitation of an offer to sell, purchase, exchange or subscribe to, any securities of Idorsia Ltd or Idorsia Investments SARL, including without limitation the CB 2025 and the CB 2028, or any other person, nor shall it form the basis of, or be relied upon in connection with, any contract therefor. This media release is not part of the Repurchase Offer Documentation in relation to the Repurchase Offer. Terms and conditions of the Repurchase Offer have been and/or will be published in the Repurchase Offer Documentation. Holders of CB 2025 and/or CB 2028 are urged to read the Repurchase Offer Documentation, which is and/or will be available at www.idorsia.com/exchange-offer (https://www.idorsia.com/exchange-offer).
This media release is not a financial product or investment advice, nor is it a recommendation to acquire, exchange or dispose of securities or accounting, legal or tax advice. It has been prepared without taking into account the objectives, legal, financial or tax situation and needs of individuals. Before making any investment decision, individuals should read the Repurchase Offer Documentation and consider the appropriateness of the information having regard to their own objectives, legal, financial and tax situation and needs and seek legal, tax and other advice as appropriate for their individual needs and jurisdiction.
Offer Restrictions
This media release is only intended for distribution to non-U.S. persons (within the meaning of Regulation S under the U.S. Securities Act of 1933, as amended). This media release is not an offer to tender securities or an offer of securities. The Repurchase Offer is being made on the basis of the Repurchase Offer Documentation only and is subject to the restrictions described therein. The Repurchase Offer is not being made, and will not be made, directly or indirectly in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or of any facilities of a national securities exchange of, the United States. This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic communication.
Attachment
- Press Release PDF (https://ml-eu.globenewswire.com/Resource/Download/86509013-5387-46cd-bfc7-eabd64f8752d)
