Alvotech completes $137 million private share placement

Reykjavik, iceland, jan. 23, 2023 (globe newswire) -- alvotech (nasdaq: alvo), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the completion of a private placement of approximately $137 million, at current exchange rates, of its ordinary shares, par value $0.01 per share, (the “shares”) at a purchase price of $11.57 per share at current exchange rates. the shares are expected be delivered from previously issued treasury shares held by alvotech's subsidiary, alvotech manco ehf.
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