InvestmentJun 18, 2026, 05:53 AM
Alvotech Closes $98M Public Offering, Expects $67M from Private Placement
AI Summary
Alvotech announced the closing of its underwritten public offering of 26,066,667 ordinary shares at $3.75 per share, generating approximately $98 million in gross proceeds. Concurrently, the company entered into subscription agreements for a private placement of 17,826,666 ordinary shares at the same price, expected to yield about $67 million. The total gross proceeds from both offerings are anticipated to be approximately $165 million, which Alvotech plans to use for continued development of its biosimilar assets, working capital, and general corporate purposes.
Key Highlights
- Alvotech closed a public offering of 26,066,667 ordinary shares at $3.75 per share.
- The public offering generated approximately $98 million in gross proceeds.
- A concurrent private placement of 17,826,666 ordinary shares at $3.75 per share is expected to close around June 25, 2026.
- The private placement is expected to generate approximately $67 million in gross proceeds.
- Total expected gross proceeds from both offerings are approximately $165 million.
- Following the private placement, Alvotech's issued share capital will be 390,431,480 ordinary shares.
- Net proceeds will fund biosimilar asset development, working capital, and general corporate purposes.
Price Impact
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