Alvotech Receives Conversion Notices for Majority of Convertible Bonds [Yahoo! Finance]
Alvotech (ALVO)
Company Research
Source: Yahoo! Finance
announced that holders of the majority of subordinated convertible bonds, originally issued by Alvotech on November 16, 2022, and December 20, 2022, respectively, with maturity on December 20, 2025 (the “Convertible Bonds”) have elected to convert the principal and accrued interest into ordinary shares of Alvotech at the fixed conversion price of US$10.00 per share on the last scheduled conversion date prior to maturity, which is July 1, 2024 (the “Conversion Date”). On the Conversion Date, Alvotech will issue new shares to the holders that have exercised their right to convert their Convertible Bonds. The total number of new shares that will be issued and delivered will depend on the prevailing exchange rate of the Icelandic krona against the U.S. dollar on June 27, 2024. Based on the current exchange rate, Alvotech estimates that approximately 22.1 million new shares will be issued. Pursuant to terms of the Convertible Bonds, the newly issued shares shall be delivered no later tha
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ALVO
Earnings
- 5/21/24 - Miss
ALVO
Sec Filings
- 6/26/24 - Form RW
- 6/26/24 - Form 6-K
- 6/18/24 - Form 6-K
- ALVO's page on the SEC website