Alvotech Closes Public Offering, Concurrent Private Placement Worth $165 Mln

(RTTNews) - Alvotech (ALVO), a commercial-stage biotechnology company, on Thursday announced the closing of its previously declared, unwritten public offering of $26.07 million ordinary shares at an offering price of $3.75 per share on June 17, 2026.

In connection with the offering, the company has entered into subscription agreements with certain investors for a concurrent offering of $17.83 million ordinary shares at a price of $3.75 per share.

The gross proceeds from the concurrent offering are estimated to be approximately $67 million. The company expects to close the concurrent placement on or about June 25, 2026, subject to customary conditions.

The Alvotech Board has approved issuing $43.89 million shares to investors participating in the offering and concurrent private placement. Following its closure, the company expects its issued share capital to comprise approximately $39.04 million shares in total.

Total gross proceeds from the public offering and concurrent private placements are estimated to be approximately $165 million. Alvotech plans to use the proceeds to advance the development of its biosimilar assets, as well as funding its working capital and general corporate purposes.

BofA Securities, Jefferies and Evercore ISI acted as joint book-running managers for the offering.

Separately on June 15, 2026, the company had declared an underwritten public offering of its ordinary shares as well as a concurrent private placement for gross proceeds of approximately $125 million.

Alvotech is currently trading at $3.87, down 1.15%.

For more such biotechstock news visit rttnews.com.