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Alvotech Raises $108 Million via Convertible Bond Offering

MT Newswires·12/17/2025 03:29:55
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03:29 AM EST, 12/17/2025 (MT Newswires) -- Alvotech (ALVO.IC, ALVO-SDB.ST) said Wednesday it raised $108 million by placing senior unsecured convertible bonds in a significantly oversubscribed offering. The bonds, which are due on Dec. 22, 2030, carry a coupon of 6.875%, payable semi-annually in arrears. The net proceeds will be used for continued investments in the biosimilar-focused biotechnology company's research and development pipeline, scale, and product launches. Concurrently with the placement, sole bookrunner DNB Carnegie placed $56 million of existing shares on behalf of the convertible bond investors.