Arendt advises Alvotech on all Luxembourg aspects of their USD 165 million public offering and concurrent private placement

Experts involved in the Deal

Corporate Law, Mergers & Acquisitions

• Alexander Olliges
• Yannick Baer
• Etienne Sauvage

Tax

• Jan Neugebauer
• Caroline Partoune

Finance & Capital Markets

• Serge Zeien
• Burak Aytac
• Guillaume Dehu

Arendt advised its regular client Alvotech, a global biotechnology company specialising in the development and manufacture of biosimilar medicines for patients worldwide, on its underwritten public offering of 26,066,667 ordinary shares and concurrent private placement to EEA professional investors of 17,826,666 ordinary shares, both priced at USD 3.75 per share.

The total gross proceeds from the public offering and the concurrent private placement are expected to be approximately $165 million, including gross proceeds from the underwriters’ exercise in full of their option to purchase additional shares, before deducting underwriting discounts and commissions and estimated offering expenses payable.

The concurrent private placement is expected to close end of June, subject to customary conditions.

Our team advised on all Luxembourg corporate, tax, capital market and securities law aspects relating to both the public offering and the private placement leg of the transaction.

Alvotech’s ordinary shares and Swedish Depositary Receipts are traded on the Nasdaq Global Market in the U.S., Nasdaq Stockholm in Sweden, and Nasdaq Iceland Main Market in Iceland. Throughout the transaction, Arendt worked closely with lead counsel Cooley in the U.S. and BBA FjeldCo in Iceland to ensure cohesive execution of this cross-border capital markets transaction.