Earlier today, Alvotech announced the completion of a private placement in the equivalent amount of ISK 19.5 billion (USD 137 million).
The shares were sold at a purchase price of ISK 1,650 per share (equivalent of USD 11,57 per share) to a group of domestic professional investors and eligible counterparties.
The private placement was initiated on 19 January 2023 and completed on 22 January 2023. Closing and settlement is expected to take place on 10 February 2023. Alvotech intends to use the proceeds for general operations and other business purposes. Landsbankinn Corporate Finance and ACRO Securities acted as advisors to Alvotech in the private placement.