Alvotech Going Public via Oaktree SPAC Merger for ~$2.25B
Shots:
- Alvotech is eligible to receive ~$450M in gross proceeds including ~$250M from Oaktree trust account, ~$150M common equity PIPE at $10.00/ share, $50M from current Alvotech shareholders making a total enterprise value of ~$2.25B. The transaction is expected to close in H1’22
- The transaction will allow further investment in the Alvotech platform and portfolio to bring cost-effective biosimilars to patients globally. Alvotech currently has seven products in its pipeline across multiple therapeutic areas
- Alvotech will be the 100% equity holder in the combined company. Upon completion of the transaction, the combined company’s securities will trade on NASDAQ under the ticker “ALVO"
/ article | Ref: Businesswire | Image: Alvotech
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