OACB - SPAC Oaktree Acquisition to take Alvotech public at $2.25B valuation

Alvotech Holdings S.A., a biopharmaceutical company focused solely on the development and manufacture of biosimilar medicines for patients worldwide to list on Nasdaq under the symbol “ALVO" through business combination with SPAC Oaktree Acquisition Corp. II (NYSE:OACB). The deal is expected to provide Alvotech with gross proceeds of $450M to fund its growth trajectory. Alvotech is focused on developing biosimilar medicines, and currently has seven products in its pipeline that address originator products treating conditions across autoimmunity, ophthalmology, osteoporosis, and oncology.  The deal is expected to close in the first half of 2022. Top-tier investors, including Suvretta Capital, Athos (the Strüngmann Family Office), CVC Capital Partners, Temasek, Farallon Capital Management, Sculptor Capital Management, and premier Icelandic investors including Arctica Finance, Arion Bank, and Landsbankinn, are anchoring an oversubscribed ~$150M common equity PIPE at a $10.00 per share entry price. Alvotech equity holders will own approximately 80%, Oaktree Acquisition Corp. II

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SPAC Oaktree Acquisition to take Alvotech public at $2.25B valuation