Alvotech Plans $125 Million Secondary Stock Offering

MT Newswires Live06-18

Alvotech (ALVO) has commenced on a $125 million common stock offering and private placement, the maker of bio-similar medicines disclosed Thursday.

The allocation of shares between the offering and concurrent private placement has not yet been determined, said Alvotech.

In addition, Alvotech said it expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the public offering, at the public-offering price.

Alvotech said it intends to use the proceeds from the stock offering and placement fund the development of its bio-similar assets, as well as for working capital and general corporate purposes.

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