Alvotech Eyes $450m Funding And Public Listing With SPAC Merger
Proposed Combination Would Have Initial Enterprise Value Of Around $2.25bn
Eight years after its inception, pure-play biosimilars company Alvotech has announced plans to list on the NASDAQ via a SPAC merger that will deliver hundreds of millions in cash to fund product development and future growth.
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Teva has appointed a new general manager in Canada following the departure of Christine Poulin to Covis Pharma. At the same time, Amneal’s associate general counsel, Meredith Cook, has taken up a role at ANI Pharmaceuticals, while Alvotech has appointed several new directors to its board as part of its transition to being a publicly-listed company.
Alvotech is celebrating an “historic milestone” as it became a publicly listed company in New York, with its shares set to also trade in its domestic Iceland next week.
Alvotech will cease to be a privately listed company next week, with its merger with special purpose acquisition company Oaktree Acquisition Corp. II set to close “on or about 15 June.”