The 2.5% convertible notes are due 2030

Davis Polk advised the several initial purchasers in connection with a Rule 144A offering by Immunocore Holdings plc of $402.5 million aggregate principal amount of its 2.50% convertible senior notes due 2030, which included the full exercise of the option by the initial purchasers to purchase an additional $52.5 million aggregate principal amount of the convertible notes.

Immunocore is a commercial-stage biotechnology company developing a class of T cell receptor, or TCR, bispecific immunotherapies designed to treat a broad range of diseases, including cancer, infectious and autoimmune diseases.

The Davis Polk corporate team included partners Richard D. Truesdell, Jr. and Yasin Keshvargar, counsel Chris Van Buren and associate Benjamin Guillon. The equity derivatives team included partner Caitlin L. Wood, counsel Faisal Baloch and associates Lindsey B. Meyers-Perez and Ari Spitzer. Partner Simon Witty and counsel Simon J. Little provided English law advice. The U.K. and U.S. tax team included partner Dominic Foulkes and counsel Alon Gurfinkel. Members of the Davis Polk team are based in the New York and London offices.