Arendt Advises Alvotech on USD 108 Million Convertible Bond Offering in Nordic Market

Arendt, Roschier, BBA//Fjeldco, Cooley LLP and Thommessen AS participated in the transaction, with Arendt advising Alvotech (NASDAQ: ALVO) on Luxembourg law aspects and Thommessen AS advising DNB Carnegie in its capacity as sole bookrunner. Roschier, BBA//Fjeldco and Cooley LLP acted as local counsel in Sweden, Iceland and the United States respectively. The transaction comprised a USD 108 million senior unsecured convertible bond offering conducted on a private placement basis to qualified investors under Regulation S. In parallel, a concurrent delta placement of existing Swedish Depositary Receipts (SDRs) was arranged to facilitate investor hedging; that placement was fully underwritten by two major shareholders. Arendt advised on all corporate, securities law and tax aspects of the offering and coordinated closely with counsel across jurisdictions to ensure cohesive execution of this cross-border transaction. Alvotech’s shares and SDRs are traded on Nasdaq Stockholm, Nasdaq Global Market in the United States and Nasdaq Iceland Main Market. Arendt represented Alvotech with a team composed by: Alexander Olliges (Corporate law, M&A); Yannick Baer (Corporate law, M&A); Serge Zeien (Finance & Capital Markets); Sean Micallef-Trigona (Finance & Capital Markets); Jan Neugebauer (Tax); Caroline Partoune (Tax). Roschier acted as Swedish counsel to the transaction. BBA//Fjeldco acted as Icelandic counsel to the transaction. Cooley LLP acted as United States counsel to the transaction. Thommessen AS advised DNB Carnegie in its capacity as sole bookrunner.

Arendt Advises Alvotech on USD 108 Million Convertible Bond Offering in Nordic Market

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