Alvotech Announces the Outcome of the Offering in Connection with the Company's Listing on Nasdaq Stockholm

Core Viewpoint - Alvotech, a global biotech company focused on biosimilar medicines, successfully completed an oversubscribed offering of Swedish Depository Receipts (SDRs) in connection with its listing on Nasdaq Stockholm, which is expected to enhance its market presence and access to capital [2][5][8]. Offering Details - The offering attracted strong interest, resulting in over 3,000 new shareholders and was multiple times oversubscribed [2][8]. - The final price per SDR was set at SEK 87.51, reflecting a 10% discount from the volume-weighted average price of the ordinary shares during the application period [8]. - The gross proceeds from the offering amounted to approximately SEK 39 million [8]. Strategic Expansion - Alvotech aims to expand its R&D capabilities, having recently acquired Xbrane Biopharma AB's R&D operations in Sweden, which will enhance its scientific and innovation capabilities [4]. - The integration of Xbrane's workforce is expected to strengthen Alvotech's presence in the Swedish life-science sector and support its growth trajectory [4]. Market Positioning - The listing on Nasdaq Stockholm is anticipated to improve Alvotech's recognition in Nordic and European markets, attracting a broader base of institutional and retail investors [5]. - There is strong investor demand for opportunities in European biotech, biopharma, and biosimilar stocks among Nordic and international institutional investors [5]. Trading Information - Trading of the SDRs on Nasdaq Stockholm is set to commence on May 19, 2025, under the ticker symbol "ALVO SDB" [8]. - A free conversion period for existing shareholders to convert their shares into SDRs will be offered for one year from the first trading day [7].