ACRO securities, among Landsbanki Íslands, acted as an advisor for Alvotech in a $137 million private share placement, at current exchange rates, at a purchase price of $11.57 per share at current exchange rates.
The offer or sale of the shares was made in an overseas directed offering directed solely into Iceland to professional clients or eligible counterparties in accordance with European Parliament and Council Directive 2014/65/EC, and in accordance with local laws and customary practices and documentation.
The shares are expected be delivered from previously issued treasury shares held by Alvotech’s subsidiary, Alvotech Manco ehf.
The private placement was initiated on January 19, 2023 and completed on January 22, 2023. Closing and settlement is expected on February 10, 2023, subject to customary closing conditions. Alvotech intends to use the net proceeds from the private placement offering for general corporate purposes.
We thank Alvotech and others involved in the process for their cooperation.