Redmile Group, LLC - Oct 27, 2025 Form 4 Insider Report for ADC Therapeutics SA (ADCT)

Role
10%+ Owner
Signature
By: /s/ Jeremy Green, Managing Member of Redmile Group, LLC
Stock symbol
ADCT
Transactions as of
Oct 27, 2025
Transactions value $
$29,999,993
Form type
4
Date filed
10/28/2025, 09:00 PM
Previous filing
Aug 26, 2025

Reporting Owners (3)

Name Relationship Address Signature Signature date CIK
Redmile Group, LLC 10%+ Owner ONE LETTERMAN DRIVE, BUILDING D, SUITE D3-300, SAN FRANCISCO By: /s/ Jeremy Green, Managing Member of Redmile Group, LLC 2025-10-28 0001425738
Green Jeremy 10%+ Owner C/O REDMILE GROUP, LLC (NY OFFICE), 45 W. 27TH STREET, FLOOR 11, NEW YORK /s/ Jeremy Green, Managing Member of RedCo II (GP), LLC, the General Partner of RedCo II Master Fund, L.P. 2025-10-28 0001650527
RedCo II Master Fund, L.P. 10%+ Owner C/O REDMILE GROUP, LLC ONE LETTERMAN, DRIVE, BUILDING D SUITE D3-300, SAN FRANCISCO /s/ Jeremy Green 2025-10-28 0001921783

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ADCT Pre-Funded Warrants Purchase $15M +3.85M $3.90 3.85M Oct 27, 2025 Common Share 3.85M See Footnotes F1, F2, F3, F4
transaction ADCT Pre-Funded Warrants Purchase $15M +3.85M $3.90 3.85M Oct 27, 2025 Common Share 3.85M Direct F1, F2, F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 RedCo II Master Fund, L.P. ("RedCo II") acquired the reported pre-funded warrants to purchase Common Shares (the "Pre-Funded Warrants") in a private placement by the Issuer pursuant to the terms of a securities purchase agreement, dated October 12, 2025 (the "Purchase Agreement"), by and among the Issuer and RedCo II. The purchase price per Pre-Funded Warrants is $3.90, which is the price per Common Share in the private placement minus the exercise price per Pre-Funded Warrant. The closing of the private placement occurred on October 27, 2025 following the satisfaction of the closing conditions.
F2 The exercise price of the Pre-Funded Warrants is CHF 0.08 per Pre-Funded Warrant Share. Based on the October 12, 2025 exchange rate of approximately $1.25 to CHF 1.00, the exercise price of the Pre-Funded Warrants in US Dollars as of October 12, 2025 was approximately $0.10.
F3 The Pre-Funded Warrants are exercisable by the holder at any time on or after the closing date of the private placement until the tenth anniversary of such closing date, subject to a 9.99% beneficial ownership blocker. At any time during the last 90 days of the term of the Pre-Funded Warrants, the holder thereof may exchange a Pre-Funded Warrant with the Issuer for a new Pre-Funded Warrant to purchase the number of Pre-Funded Warrant Shares then remaining under such Pre-Funded Warrant, with a subsequent ten-year exercise period.
F4 These reported securities are directly owned by RedCo II. Redmile Group, LLC ("Redmile") may be deemed to beneficially own the reported securities as the investment manager of RedCo II. The reported securities may also be deemed beneficially owned by Jeremy Green as the principal of Redmile. Redmile and Mr. Green disclaim beneficial ownership of the reported securities except to the extent of its and his respective pecuniary interest therein, if any. This report shall not be deemed an admission that Redmile or Mr. Green is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F5 These reported securities are directly owned by RedCo II and this transaction is a repetition of the same transaction disclosed in the row above to disclose this fund's direct ownership.