Alvotech (ALVO) Closes $165M Public Offering and Private Placement

Alvotech (ALVO) closed its public offering and a concurrent private placement on June 18, 2026, generating approximately $165 million in gross proceeds. The biopharmaceutical company issued 12.5 million ordinary shares in the public offering and 8.125 million shares in the private placement, with both transactions priced at $8.00 per share. The public offering raised $100 million, with Alvotech's global strategic partner, Teva Pharmaceutical Industries Ltd. (TEVA), participating. The concurrent private placement contributed $65 million, as a subsidiary of Azimut (AZI.MI) purchased the shares. Jefferies, Cowen, and Evercore ISI served as joint book-running managers for the public offering. The capital infusion is expected to support Alvotech's ongoing operations and development initiatives.