A group of investors made an offer to acquire 4.4% stake in Alvotech (NasdaqGM:ALVO) for $170 million on February 26, 2024. Alvotech accepted the offer. The offer price per share is $16.41.

Offer was made for 10,127,132 shares. Alvotech intends to use the net proceeds from the Transaction for general corporate purposes and working capital, to strengthen its production capacity and to support expected biosimilars launches.