ALVODeal done, cash raised
Alvotech says it closed the public offering it had already lined up, and the underwriters grabbed the full greenshoe too. Translation: the company sold 26.1 million ordinary shares at $3.75 apiece, which pushes the gross haul to roughly $165 million.
Why you should care
This is classic biotech life: raise money now so you can keep the machine humming later. The upside is a fatter balance sheet, which can help fund development, manufacturing, and the messy business of scaling biosimilars.
The downside? More shares in circulation. That’s dilution, and it can cramp the mood for existing shareholders even when the financing was expected.
The fine print matters
The company also said the offering was paired with a concurrent private placement, so this wasn’t just a simple one-and-done stock sale.
Big picture: Alvotech got the financing finished, which buys it breathing room — but investors still have to decide whether that fresh capital is worth the extra share count hanging around their portfolio.