InvestmentJun 18, 2026, 04:02 AM
Alvotech Raises $165M from Public Offering & Private Placement
AI Summary
Alvotech announced the closing of its underwritten public offering, raising approximately $98 million in gross proceeds from the sale of 26,066,667 ordinary shares at $3.75 each, including the full exercise of the underwriters' option. Concurrently, the company entered into subscription agreements for a private placement of 17,826,666 ordinary shares at the same price, expected to generate about $67 million. The combined gross proceeds from both transactions 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 an underwritten public offering of 26,066,667 ordinary shares at $3.75 per share.
- The public offering included 3,400,000 shares from the underwriters' full option exercise.
- Gross proceeds from the public offering were approximately $98 million.
- 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 gross proceeds from both the offering and private placement are expected to be approximately $165 million.
- Following the concurrent private placement, Alvotech's issued share capital will total 390,431,480 ordinary shares.
- Net proceeds will fund biosimilar asset development, working capital, and general corporate purposes.
Price Impact
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