Alvotech SEC Filings

Alvotech has strengthened its liquidity by amending its existing credit agreement to add a new term loan facility of up to $75 million. The facility, led by funds managed by GoldenTree Asset Management and other existing lenders, carries a 12.50% interest rate payable monthly in cash and matures on December 31, 2027. This follows a recently announced $165 million equity capital raise, and together the equity financing and undrawn term loan facility give the company access to $240 million in new capital to support its biosimilar R&D pipeline, product launches and expansion of global commercial operations.

Celtic Holdings S.C.A. and Celtic Lux Holdings S.a r.l. updated their large shareholder disclosure for Alvotech. They report beneficial ownership of 107,450,988 Ordinary Shares, representing about 27.5% of Alvotech, based on 390,431,480 shares outstanding as of the company’s recent public offering and concurrent private placement.

On June 26, 2026, Celtic Lux bought 10,133,333 Ordinary Shares at $3.75 per share, investing $38,000,000 through a PIPE transaction funded by a $40,000,000 senior secured term loan. All Alvotech shares held by Celtic Lux, including the new PIPE shares, are pledged as collateral. Celtic Lux also entered into a 90‑day lock-up restricting sales and registration activity after the June 16, 2026 prospectus supplement, and received demand registration rights for the PIPE shares.

Alvotech closed a major equity financing, combining an underwritten public share offering with a concurrent private placement to raise total gross proceeds of about $165 million.

The company sold 26,066,667 ordinary shares in the public offering at $3.75 per share, including 3,400,000 shares from the underwriters’ full over-allotment option, generating roughly $98 million in gross proceeds. At the same price, it agreed to sell an additional 17,826,666 ordinary shares in a private placement expected to raise about $67 million, subject to customary closing conditions.

In total, the board approved the issuance of 43,893,333 new ordinary shares, after which Alvotech’s share capital will be 390,431,480 ordinary shares. The company plans to use the net proceeds to advance its biosimilar pipeline, support working capital and general corporate purposes, which may include R&D, commercialization activities, intellectual property protection, capital expenditures, partnerships, and potential debt repayment or refinancing.

Alvotech has launched a major equity financing, combining an underwritten public offering and a concurrent private placement, and updated investors on key U.S. regulatory risks for several biosimilars. The company is selling 22,666,667 ordinary shares at $3.75 per share, with underwriters exercising in full a 3,400,000-share option, for expected net proceeds of about $91.20 million. In parallel, Alvotech agreed to a private placement of 17,826,666 ordinary shares at the same price, targeting gross proceeds of roughly $66.85 million, with that closing contingent on the offering.

The funds are intended to support development of its biosimilar portfolio and general corporate purposes. Alvotech also added a risk factor explaining that the FDA issued Complete Response Letters for AVT03, AVT05 and AVT06 due to deficiencies at its Reykjavik manufacturing facility. The company has resubmitted BLAs for AVT05 and AVT06, but warns that any further FDA concerns or reinspection findings could delay U.S. approvals and adversely affect its business and share price.

Alvotech is offering 22,666,667 ordinary shares at a public offering price of $3.75 per share pursuant to this prospectus supplement.

The underwriters have a 30-day option to purchase up to 3,400,000 additional ordinary shares. A concurrent private placement of 17,826,666 shares for gross proceeds of approximately $66.85 million was agreed with certain EEA investors and is conditioned on the closing of this offering.

Alvotech is offering ordinary shares pursuant to a preliminary prospectus supplement dated June 15, 2026. The supplement is being filed from an existing shelf registration and describes a primary offering of ordinary shares, with an underwriting option to purchase additional shares.

The supplement discloses a related concurrent private placement to certain European professional clients at the public offering price, conditioned on this offering closing. The company reports 312,153,164 ordinary shares outstanding as of March 31, 2026, recent FDA activity including a Form 483 following a May 2026 inspection of its Reykjavik facility and resubmissions of BLAs for AVT05 and AVT06 on June 4, 2026.

Alvotech has suspended and terminated its ATM Prospectus Supplement with Jefferies LLC, which had allowed potential open market issuances of its ordinary shares under an Open Market Sale agreement dated June 14, 2024. The underlying Sales Agreement remains in effect, but the company will not sell securities under it unless a new prospectus supplement or a new registration statement is filed.

Alvotech reported Q1 2026 total revenues of $105.9 million, down from $132.8 million a year earlier, with Adjusted EBITDA of $24.4 million and a 57% gross margin. Statutory profit was $1.0 million, helped by finance income, but operating cash flow was a $60.4 million outflow, reducing cash to $63.8 million as of March 31, 2026.

Debt remains high with outstanding borrowings of about $1.31 billion. Management still guides for 2026 revenues of $650–$700 million and Adjusted EBITDA of $180–$220 million, assuming growing biosimilar uptake and new launches. The company concluded it remains a going concern but may need additional financing if cash generation lags.

Strategically, regulators accepted a Biologics License Application for AVT16, a proposed interchangeable biosimilar to Entyvio, with an FDA review period of up to six months. The EMA has also validated a marketing application covering AVT16 and AVT80, and Alvotech expanded commercial agreements and advanced multiple pipeline programs, including Eylea HD and Entyvio biosimilar candidates.

Alvotech filed a Form 6-K highlighting two corporate updates. The company confirmed that all draft resolutions at its 2026 Annual and Extraordinary General Meeting held on June 3, 2026 were approved, with detailed minutes and voting results to be posted on its AGM web portal.

Alvotech also announced resubmission to the U.S. FDA of Biologics License Applications for AVT05, a proposed biosimilar to Simponi and Simponi Aria, and AVT06, a proposed biosimilar to Eylea 2 mg. The resubmissions follow responses to a Post-Application Action Letter and a routine cGMP surveillance inspection at its Reykjavik facility, and the company expects a six-month FDA review. Alvotech already markets five biosimilars globally and has nine disclosed biosimilar candidates in development.