Alvotech raises $165M via share offering and private placement

Alvotech (NASDAQ: ALVO) closed an underwritten public offering on June 17, 2026, selling 26,066,667 ordinary shares at $3.75 per share, generating approximately $98 million in gross proceeds before underwriting discounts, commissions, and offering expenses.

The share count includes 3,400,000 ordinary shares issued following the full exercise by underwriters of their option to purchase additional shares. All shares in the offering were sold by Alvotech.

Concurrent with the offering, Alvotech entered into subscription agreements with certain European Economic Area investors for the private placement of 17,826,666 ordinary shares at the same $3.75 per share price. The private placement is expected to generate approximately $67 million in gross proceeds and is expected to close on or about June 25, 2026, subject to customary conditions.

Combined gross proceeds from both the offering and the private placement are expected to total approximately $165 million, before deducting underwriting discounts, commissions, and estimated offering expenses.

Following the close of the private placement, Alvotech's total issued share capital will amount to 390,431,480 ordinary shares.

Alvotech said it intends to use net proceeds for biosimilar development, working capital, and general corporate purposes, which may include intellectual property activities, capital expenditures, research and development, pre-commercialization activities, and repayment or refinancing of debt.

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

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