Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 16

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 16
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 to repurchase the notes for cash upon a fundamental change or, if so required, settle conversions of notes in cash, and our existing and future debt may contain limitations on our ability to repurchase the notes.

Holders of the notes have the right, subject to certain conditions and limited exceptions, to require us to repurchase all or a portion of their notes upon the occurrence of a fundamental change at a fundamental change repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date, as described in the section titled “Description of Notes—Fundamental Change Permits Holders to Require Us to Repurchase Notes.” In addition, in certain circumstances described in the section titled “Description of Notes—Conversion Rights—Conversion Share Limitations,” we may be required to settle conversions of notes in cash. However, we may not have enough available cash or be able to obtain financing at the time we are required to make repurchases of the notes surrendered therefor or to pay cash, if so required, with respect to notes being converted. In addition, our ability to repurchase the notes or to pay cash, if so required, with respect to notes being converted may be limited by law, by regulatory authority or by agreements governing our existing or future indebtedness. Our failure to repurchase the notes at a time when the repurchase is required by the indenture governing the notes or to pay any cash payable on future conversions of the notes as required by the indenture would constitute a default under the indenture. A default under the indenture or the fundamental change itself could also lead to a default under agreements governing our existing or future indebtedness. If the repayment of the related indebtedness were to be accelerated after any applicable notice or grace periods, we may not have sufficient funds to repay the indebtedness and repurchase the notes or to pay cash, if so required, with respect to notes being converted.**

**Redemption of the notes may adversely affect your return on the notes.**

We may not redeem the notes prior to February 5, 2027, except in the event of certain tax law changes described in this prospectus supplement. We may redeem for cash all or any portion of the notes (subject to the partial redemption limitation), at our option, on or after February 5, 2027 if the last reported sale price of our ADSs has been at least 130% of the conversion price then