In This Article:
Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland – April 16, 2025
Idorsia Ltd (SIX: IDIA) today announced that the hearing by the higher cantonal composition authority (obere kantonale Nachlassbehörde) (the Court) in relation to its outstanding convertible bond (ISIN: CH0426820350) (the Bonds or CB 2025) with a nominal value of CHF 200 million and a conversion price of CHF 6.00 per Idorsia share, which matured on January 17, 2025, was held yesterday and that the Court approved the amendments of the Bond terms decided at the bondholder meeting held on February 25, 2025.
The amended terms will become effective, if no appeal is filed against the court decision, within 30 days from the official publication of the written statement of the grounds. All information related to the meeting can be found at the following link: www.idorsia.com/CB2025.
Approving this extension of the maturity of the CB 2025 until September 17, 2025 is the first step in a larger holistic restructuring to provide the time required for its implementation, as announced in a press release on February 26, 2025.
In the coming weeks, the company will provide an update on the implementation of the holistic restructuring, including the timing of the new money facility subscription process and exchange offer.
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