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Alvotech and SPAC Oaktree Acquisition Corp. II (NYSE:OACB) on Tuesday said that their planned merger was approved by OACB shareholders. OACB agreed to take Alvotech, a biopharmaceutical company developing biosimilars, public in Dec. 2021 at a $2.25B valuation. The merger is anticipated to close on or about June 15. Alvotech shares are expected to trade under the new ticker symbol “ALVO” from June 16 on Nasdaq. OACB stock -1.9% to $9.80 in aftermarket trading.