08:22 AM EDT, 05/06/2024 (MT Newswires) -- ADC Therapeutics ( ADCT ) said Monday it has launched an underwritten offering of approximately 13.4 million shares at $4.90 each.

In lieu of the offering, certain investors will be able to choose pre-funded warrants to purchase 8,163,265 common shares for $4.812 per pre-funded warrant.

Gross proceeds from the offering, which is slated to close Wednesday, is expected to be approximately $105 million.

Shares of ADC Therapeutics ( ADCT ) were up more than 3% in recent Monday premarket activity.

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