Luxembourg, 16 June 2022 – Arendt & Medernach assisted its long-standing client Alvotech, a Luxembourg public limited liability company, in its business combination with the Oaktree Acquisition Corp. II SPAC, and the subsequent listing of its shares and warrants on Nasdaq on 16 June 2022 (Ticker: ALVO) and Nasdaq First North Growth Market (Iceland, expected on 23 June 2022). The business combination included a USD 175 million PIPE raised.
Alvotech is a leading global biotech company founded by Robert Wessman, focused on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech has built a vertically integrated platform for developing and manufacturing biosimilars at scale. The Arendt team assisted on all Luxembourg law aspects of the transaction, including the business combinations, question of listing of securities on foreign markets, financing and tax aspect as well as relevant governance matters. Lead counsel for Alvotech was Cooley LLP.