en.Wedoany.com Reported - Alvotech (NASDAQ: ALVO; ALVO-SDB) announced the pricing of its underwritten public offering of 22,666,667 ordinary shares at $3.75 per share, with expected gross proceeds of approximately $85 million; if the underwriters fully exercise their 30-day option to purchase up to an additional 3,400,000 shares, the total gross proceeds from the public offering would increase to approximately $98 million. All shares are being offered by Alvotech, and the offering is expected to close on June 17, 2026.
In addition to the public offering, Alvotech entered into subscription agreements with certain professional clients or eligible counterparties within the European Economic Area for a concurrent private placement of 17,826,666 ordinary shares at $3.75 per share, which is exempt from registration requirements, with expected gross proceeds of approximately $67 million, to be completed no later than June 25, 2026. The combined total gross proceeds from the two financings are approximately $152 million, or approximately $165 million if the public offering option is fully exercised (in each case, before deducting underwriting discounts, commissions, and offering expenses). Alvotech plans to use the net proceeds for the continued development of biosimilar assets, working capital, and general corporate purposes, including intellectual property protection, commercial expenditures, research and development, commercialization, and debt repayment.
BofA Securities, Jefferies, and Evercore ISI are acting as joint book-running managers for the offering.
Alvotech is a global biotechnology company headquartered in Reykjavik, Iceland, focused on the development and manufacturing of biosimilars. It has obtained approval and launched multiple biosimilars globally, including adalimumab, ustekinumab, golimumab, aflibercept, and denosumab. Its current development pipeline includes nine disclosed drug candidates covering areas such as autoimmune diseases, ophthalmic conditions, osteoporosis, respiratory diseases, and cancer.
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