Bär & Karrer Advises Credit Suisse and Goldman Sachs in a Combined Offering on the Placement of Shares and CHF 200 Million 0.75% Senior Convertible Bonds of Idorsia

Idorsia Ltd successfully placed 11,912,000 new shares by way of an accelerated bookbuilding in a private placement with institutional investors. The placed shares are sourced from the company's existing authorized share capital and the pre-emptive rights of the existing shareholders have been excluded. The offer price was set at CHF 25.62 per share. Additionally, Idorsia successfully placed CHF 200 million of senior unsecured convertible bonds due 2024 in a private placement with institutional investors.

The gross proceeds from the combined offerings amount to CHF 505 million. The proceeds from the combined offerings will be used to fund the ongoing research and development pipeline of Idorsia. Credit Suisse and Goldman Sachs International were acting as Joint Bookrunners and Octavian as Selling Agent on these offerings.

Bär & Karrer advises the syndicate banks in these transactions. The team includes Thomas U. Reutter, Roland Truffer, Sandro Fehlmann, Stefanie Walch and Manuela Cassano (all Capital Markets), Christoph Suter and David Weimann (both Tax) as well as Markus Wang (IP).