Alvotech Kicks Off $100 Million Senior Convertible Bonds Offering

12:11 AM EST, 12/17/2025 (MT Newswires) -- Alvotech (ALVO.IC, ALVO-SDB.ST) said Tuesday it launched an offering of $100 million in senior unsecured convertible bonds due 2030. The bonds are expected to have a coupon rate in the 6.375% to 6.875% range. The biosimilar-focused biotechnology company said the offering may be upsized by $25 million before pricing and allocation. Net proceeds will be used to support the company's plan to invest $250 million in research and development and scale its production in 2026. Concurrent with the bond offering, Alvotech expects to place 500 million kronor of existing shares on behalf of investors in its convertible bonds. An accelerated bookbuild process is scheduled to be completed by Wednesday.