Alvotech (ALVO) has released an update.
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Alvotech, a global biotech firm, has issued over 22 million new ordinary shares to convertible bondholders at a fixed price of $10.00 each, a move that increases its total issued shares to approximately 324.8 million. This strategic step allows bondholders, primarily current shareholders, to convert their holdings before the bonds mature in December 2025, reflecting the company’s ongoing efforts to integrate and expand its biosimilar medicines market presence globally.
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