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Alvotech Chases Debt Backup As Shareholders Redeem From The Pot

Newly Public Company Has $128m In Available Cash

 
• By Dean Rudge

Alvotech is furthering efforts to have a debt facility in place worth up to $125m as it kicks off life as a public company, amid challenging global market conditions.

Dollars (incamerastock/Alamy Stock Photo)
Alvotech is eyeing completion of a new debt facility • Source: Shutterstock (incamerastock / Alamy Stock Phot/Alamy Stock Photo)

Alvotech expects to have its backstop debt facility worth up to $125m in place by the end of the year, after conceding that higher-than-expected shareholder redemptions and “unexpected global market conditions” have delayed the process.

The Icelandic firm, which became a public company in June following its merger with a special purpose acquisition company, Oaktree Capital Management’s Oaktree Acquisition Corp

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