Alvotech, a global biotech company specializing in biosimilar medicines, has recently issued new shares to holders of subordinated convertible bonds.This move aims to enhance the company’s financial stability and support its continued development and manufacture of biosimilar drugs.This article will outline the key details of this share issuance, along with other important updates regarding Alvotech’s share capital increase and the acceptance of an offer for the sale of shares.
Paragraph 1: Share Issuance to Convertible BondholdersAlvotech recently issued new shares to holders of its subordinated convertible bonds, originally released in November and December 2022.The maturity date for these bonds is December 20, 2025.Through this share issuance, Alvotech seeks to provide additional value to bondholders and strengthen its financial position.The exact number of new shares issued and the conversion ratio from bonds to shares were not disclosed in the press release.
Paragraph 2: Increase in Number of Own SharesIn another strategic move earlier this year, Alvotech increased its share capital by USD 130,000.This increase was achieved by issuing thirteen million ordinary shares at a price of USD 15.98 per share.Notably, these shares were subscribed solely by Alvotech’s subsidiary, Alvotech Manco ehf, which holds them as treasury shares without voting rights or dividend en
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