Alvotech Adds $250m Equity And Debt Facilities To Bolster SPAC Merger

Two Facilities Are Expected To Be Used To Replace Potential Redemptions

22 Apr 2022

With $250m in SPAC Oaktree Acquisition Corp. II’s trust account, Alvotech has signed terms for additional capital facilities worth up to $250m in the face of looming shareholder redemptions.

Dollars — Alvotech: facilities will strengthen merger's capitalization profile • Source: Shutterstock

Alvotech’s proposed merger with a blank cheque company has been shored up against the potential of higher-than-expected shareholder redemptions, after it signed terms for a financial backstop including both a standby equity agreement and a debt facility worth up to a combined $250m.

A standby equity purchase agreement facility from Ya Ii Pn, Ltd