Alvotech Announces Pricing of $152 Million Public Offering of Ordinary Shares and Concurrent Private Placement
Rhea-AI Summary
Alvotech (NASDAQ: ALVO) priced an underwritten public offering of 22,666,667 ordinary shares at $3.75 per share, targeting gross proceeds of about $85 million, or $98 million if underwriters exercise a 3.4 million-share option.
A concurrent private placement of 17,826,666 shares at $3.75 is expected to raise about $67 million, bringing total gross proceeds to roughly $152–165 million. According to Alvotech, net proceeds will support biosimilar development, working capital, general corporate purposes and possible debt repayment.
Positive
- Base public offering expected to raise approximately $85 million gross
- Underwriters’ option could increase public offering proceeds to about $98 million
- Concurrent private placement expected to add roughly $67 million gross
- Total gross proceeds from offering and private placement could reach about $165 million
- Proceeds earmarked for biosimilar development and broader corporate purposes, including R&D
Negative
- Large issuance of ordinary shares implies potential dilution for existing shareholders
- Underwriters’ 3.4 million-share option could further increase dilution
- Net proceeds reduced by underwriting discounts, commissions and offering expenses
News Market Reaction – ALVO
In the Jun 16 session, ALVO declined 8.73%, reflecting a notable negative market reaction. Argus tracked a peak move of +2.3% during that session. Argus tracked a trough of -11.4% from its starting point during tracking. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 10 | Manager transaction filing | Neutral | +1.9% | Disclosure of share allocation to a board director as manager transaction. |
| Jun 08 | FDA BLA acceptance | Positive | +13.7% | FDA acceptance of BLA for AVT16, an interchangeable Entyvio biosimilar. |
| Jun 04 | BLA resubmissions | Positive | +19.1% | Resubmission of BLAs for AVT05 and AVT06 after addressing FDA feedback. |
| Jun 03 | AGM results | Neutral | +19.1% | All draft resolutions approved at 2026 Annual and Extraordinary GM. |
| Jun 02 | Investor conferences | Positive | +4.7% | Management participation in multiple June healthcare and biosimilar conferences. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news has been largely positive (FDA progress, resubmissions, AGM approvals) with subsequent positive price reactions, indicating the stock has tended to respond constructively to regulatory and corporate updates.
Over early June 2026, Alvotech reported a series of constructive developments: FDA acceptance of a BLA for AVT16, resubmission of BLAs for AVT05 and AVT06, and approval of all resolutions at the 2026 AGM. These were accompanied by positive one-day moves up to 19.11%. The current equity financing follows this stretch of regulatory and corporate progress and adds to the company’s funding options after prior business updates and financing transactions disclosed in recent filings.
Key Terms
underwritten public offering financial
private placement financial
offering price financial
underwriters financial
registration statement regulatory
form f-3 regulatory
prospectus supplement regulatory
base prospectus regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
REYKJAVIK, ICELAND (June 16, 2026) — Alvotech (NASDAQ: ALVO; ALVO-SDB) (“Alvotech” or the “Company”), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the pricing of its previously announced underwritten public offering (the “Offering”) of 22,666,667 of its ordinary shares at an offering price of
Concurrent with the Offering, Alvotech has entered into Subscription Agreement(s) with certain investors that are professional clients or eligible counterparties in the European Economic Area falling within article 1(4) of Regulation (EU) 2017/1129, pursuant to which Alvotech will issue and sell 17,826,666 ordinary shares to such investors at a price of
The total gross proceeds from the Offering and the concurrent private placement are expected to be approximately
Alvotech intends to use the net proceeds from this Offering and the concurrent private placement to fund the continued development of its biosimilar assets, as well as working capital and general corporate purposes, which may include, among others, intellectual property protection and enforcement, commercial expenditures, capital expenditures, acquisitions or collaborations, pre-clinical and clinical development of its product candidates, research and development and product development, pre-commercialization activities and repayment or refinancing of indebtedness or other corporate borrowings.
BofA Securities, Jefferies and Evercore ISI are acting as joint book-running managers for the Offering.
The Offering is being made pursuant to a registration statement on Form F-3, including a base prospectus, that was previously filed with the U.S. Securities and Exchange Commission (“SEC”) on October 20, 2023, and declared effective on October 30, 2023. The ordinary shares referred to in this press release are being offered in the United States only by means of a prospectus supplement and the accompanying prospectus that forms a part of the registration statement. Copies of the final prospectus supplement and the accompanying prospectus related to this Offering may be obtained, when available, from: BofA Securities, Attention: Prospectus Department, 201 North Tryon Street, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@jefferies.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com. Investors may also obtain these documents at no cost by visiting the SEC’s website at http://www.sec.gov.
About Alvotech
Alvotech is a biotechnology company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in biosimilars by delivering high-quality, cost-effective products and services, enabled by a fully integrated approach and broad in-house capabilities. Five biosimilars are already approved and marketed in multiple global markets, including biosimilars to Humira® (adalimumab), Stelara® (ustekinumab), Simponi® (golimumab), Eylea® (aflibercept) and Prolia®/Xgeva® (denosumab). The current development pipeline includes nine disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East.
Important information
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these shares, nor shall there be any sale of these shares, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The distribution of this document may, in certain jurisdictions, be restricted by local legislations. Persons into whose possession this document comes are required to inform themselves about and to observe any such potential local restrictions.
This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 on the prospectus to be published when shares are offered to the public admitted to trading on a regulated market, as amended (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. The Company has not authorized any offer to the public of shares or other securities in any member state of the EEA and no prospectus has been or will be prepared in connection with the Offering. In any EEA Member State, this communication is only addressed to and is only directed at “qualified investors” in that Member State within the meaning of the Prospectus Regulation.
With respect to the member States of the European Economic Area (a “Relevant Member State”), no action has been undertaken or will be undertaken to make an offer to the public of the shares referred to herein requiring a publication of a prospectus in any Relevant Member State. As a result, the shares may not and will not be offered in any Relevant Member State except in accordance with the exemptions set forth in Article 1(4) of the Prospectus Regulation or under any other circumstances which do not require the publication by the Company of a prospectus pursuant to Article 3 of the Prospectus Regulation and/or to applicable regulations of that Relevant Member State.
In addition, in the United Kingdom, this announcement is directed at and for distribution only to Qualified Investors who are (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order, and (iii) other persons to whom this announcement may otherwise lawfully be communicated (all such persons together being referred to as "Relevant Persons"). The shares referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such shares will be engaged in only with Relevant Persons. Any person who is not a Relevant Person should not act or rely on this communication or any of its contents.
No announcement or information regarding this Offering may be disseminated to the public in jurisdictions where a prior registration or approval is required for such purpose. Other than the registration statement filed with the SEC, no steps have been taken, or will be taken, for the Offering of shares in any jurisdiction where such steps would be required. The issue or sale of shares, and the subscription for or purchase of shares, are subject to special legal or statutory restrictions in certain jurisdictions. This press release contains inside information within the meaning of MAR that Alvotech is legally obliged to publish. The information was released for publication, through the agency of the contact persons below, at the date and time indicated by the dateline of publication.
Forward Looking Statements
Certain statements in this communication may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, but are not limited to, Alvotech’s expectations regarding the completion and timing of the Offering and the concurrent private placement, the potential exercise of the underwriters’ option to purchase additional shares, and the expected use of proceeds. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “aim” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Alvotech and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Alvotech’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: whether or not we will be able to consummate the Offering the final terms of the offering, the satisfaction of customary conditions precedent to close the proposed Offering and concurrent private placement, and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents that Alvotech may from time to time file or furnish with the SEC, including the final prospectus supplement and the accompanying prospectus related to this Offering and the Company’s most recent annual report on Form 20-F. There may be additional risks that Alvotech does not presently know or that Alvotech currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as a representation, guarantee, assurance, prediction or definitive statement of a fact or probability. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Alvotech does not undertake any duty to update these forward-looking statements or to inform the recipient of any matters of which any of them becomes aware of which may affect any matter referred to in this communication.
Media
Benedikt Stefansson
Sarah MacLeod
alvotech.media@alvotech.com
Investors
Dr. Balaji V Prasad
Benedikt Stefansson
alvotech.ir@alvotech.com
