Idorsia reached an agreement with more than two-thirds of holders of its convertible bond debt on bond restructuring that will remove a large debt overhang and provide CHF150m of new funding, according to a company 
- CHF150m new money facility will extend its cash runway into 2026- Facility will be repaid with interest within 24 months and is fully backstopped by a bondholder group who will receive a total of 9m Idorsia shares and 8 million Idorsia warrants at a CHF1.50 strike price, exercisable any time before maturity
- Idorsia will also sell 5m shares to certain bondholders
 
- Company to ...
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