Bondholders approve amended terms of the 2025 and 2028 convertible bonds
Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland – June 25, 2025Idorsia Ltd. (SIX: IDIA) today announced the positive outcome of two bondholder meetings held at 17:30 CEST and 19:00 CEST on June 25, 2025.
The bondholder meetings for holders of Idorsia's outstanding CHF 200 million convertible bonds maturing in 2025 (CB 2025; ISIN CH0426820350), and CHF 600 million convertible bonds maturing in 2028 (CB 2028; ISIN CH1128004079) were held to vote on the amendments to the terms of the CB 2025 and CB 2028, including an extension of the maturity date of the CB 2025 to July 17, 2034, and the maturity of the CB 2028 to August 4, 2038.
89.5% of the holders of the CB 2025 and 93.5% of the holders of the CB 2028 voted in favor of the amendments – significantly exceeding the required two thirds majority thresholds.
The amendments to the CB 2025 and CB 2028 terms will become binding and effective upon approval by the higher cantonal composition authority (obere kantonale Nachlassbehörde) and are conditional on the consummation of the repurchase offer for the CB 2025 and CB 2028, which was launched on June 25, 2025.
All information related to the bondholder meetings and amended terms can be found at the following links: www.idorsia.com/CB2025 and www.idorsia.com/CB2028.
Notes to the editor
About IdorsiaIdorsia 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 contactInvestor & Media RelationsIdorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil+41 58 844 10 10investor.relations@idorsia.com – media.relations@idorsia.com – 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
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
28 minutes ago
- Business Insider
Morgan Stanley Sticks to Their Hold Rating for Heiwa Real Estate Co., Ltd. (HZJ)
In a report released yesterday, Toshiyuki Anegawa from Morgan Stanley maintained a Hold rating on Heiwa Real Estate Co., Ltd. (HZJ – Research Report), with a price target of Yen2,550.00. The company's shares closed yesterday at €25.80. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Anegawa is an analyst with an average return of -4.8% and a 50.00% success rate. Anegawa covers the Real Estate sector, focusing on stocks such as Daito Construction, Daiwa House Industry Co, and Heiwa Real Estate Co., Ltd.. Currently, the analyst consensus on Heiwa Real Estate Co., Ltd. is a Hold with an average price target of €29.70. Based on Heiwa Real Estate Co., Ltd.'s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of €8.19 billion and a net profit of €1.51 billion. In comparison, last year the company earned a revenue of €7.52 billion and had a net profit of €955 million
CNBC
3 hours ago
- CNBC
How China could shut down auto factories around the world
China's dominance of the global supply chain is starting to hurt automakers. On April 4, the country cut off exports of a class of minerals called "heavy rare earth elements," and it sent the global auto industry into a panic. Rare earths are a class of 17 elements that have become indispensable in all kinds of applications — everything from fighter jets and submarines, to smartphones and appliances. You can even find them in sports equipment, like tennis rackets and baseball bats. They are also, of course, essential to the modern automobile. Gas burning cars use them to filter pollution through the vehicle's catalytic converter. Electric vehicles use them in motors and batteries. "Rare earths are really critical, and not just for electric vehicles," said Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies. "They are in your seat belt, your steering wheels, various parts of your electrical components. You are not going to manufacture a car without rare earths." Rare earths are split into further categories, based on their atomic weight. Light rare earths are easier to source. It's the medium and heavy ones that China has totally monopolized. China controls about 70% of the world's rare earth mines. But where it really dominates is in processing. The name "rare earth elements" is a bit misleading — the elements themselves are not that rare in nature. What makes them "rare" is the complex and difficult process of separating them from the rock they are embedded in, and from each other. China controls about 90% of the world's rare earth processing, and has a total monopoly on the processing of heavy rare earths. Since at least 2023, China has been tightening its grip on several of the key critical minerals it provides for the world, Baskaran said. Still, the April 4 export restrictions shocked the automotive world. "It came out of nowhere," said Dan Hearsch, managing director at AlixPartners. "Nobody had any time to react to it. I mean, within a matter of weeks, all of the material in the pipeline was out." European automakers shut down factories. Ford had to idle production of its popular Explorer SUV. This month, China started permitting some access to companies that supply parts to some automakers. And this week the Trump administration said it had reached a deal to expedite rare earth and magnet shipments to the U.S. Still it is unclear how durable these deals will be. "We're not out of the woods yet," Baskaran said. "There is a lot of volatility in the U.S.-China relationship in between tariffs and mineral restrictions. We've seen China ramp up restrictions over two years. Rare earths are just the newest one." There are longer-term solutions if China cuts off access again: recycling, developing other sources and innovation, for example. This crisis may even spur the industry to take action that reduces dependence on China. But this rare earths crisis is just the latest in a series of supply disruptions over the last several years. Hearsch said it will likely get worse. "Today it's rare earths," Hearsch said. "But tomorrow it can and will be something else that maybe we're not thinking about, that maybe isn't even all that valuable and suddenly will be." Watch the video to learn more
Business Insider
13 hours ago
- Business Insider
London Tribunal Rules that Visa and Mastercard's (MA) Fees Violate Competition Law
Visa (V) and Mastercard (MA) are once again under legal fire as a London tribunal ruled that their default multilateral interchange fees—charges applied to retailers each time a customer uses one of their cards—violate European competition law. These fees, set by Visa and Mastercard rather than negotiated individually, have long been criticized by retailers for being excessive and non-transparent. The latest ruling comes from the Competition Appeal Tribunal in the U.K., which sided unanimously with hundreds of merchants who brought the case after a decade-long legal battle over these charges. Confident Investing Starts Here: The law firm Scott+Scott, which represents the claimants, called the ruling a major victory. David Scott, the firm's global managing partner, said that the decision was 'a significant win for all merchants who have been paying excessive interchange fees to Visa and Mastercard.' According to the firm, this is the first time a court has found that both commercial card fees and inter-regional (cross-border) multilateral interchange fees violate competition law. The ruling confirms that Visa and Mastercard's fees unlawfully restricted competition by setting default rates that retailers had little choice but to accept. Despite the setback, both Visa and Mastercard pushed back strongly against the ruling. A Visa spokesperson said that the company 'continues to believe that interchange is a critical component to maintaining a secure digital payments ecosystem that benefits all parties, including consumers, merchants and banks.' Mastercard also criticized the decision by calling it 'deeply flawed' and stating that it would seek permission to appeal. A second phase of the litigation is still underway, which will determine whether merchants passed on the cost of these interchange fees to consumers through higher prices. That upcoming trial could influence the amount of any potential damages. Which Payment Stock Is the Better Buy? Turning to Wall Street, out of the two stocks mentioned above, analysts think that Mastercard stock has more room to run than Visa. In fact, Mastercard's price target of $639.86 per share implies 16.1% upside versus Visa's 11.8%.
