Biopharmaceutical company Alvotech Holdings SA said on Tuesday it plans to list in New York by merging with a blank-check company backed by Oaktree Capital Management, in a deal that values the combined entity at around $2.25 billion.
The Iceland-based company will receive gross proceeds of $450 million from the deal, including $150 million from a private placement in public equity backed by Temasek, CVC Capital Partners and funds managed by Suvretta Capital among others., a special purpose acquisition company , raised $225 million through an initial public offering in September last year.A SPAC is a listed shell company that merges with a private entity to take it public by sidestepping a traditional IPO.
The drugmaker has partnered with pharmaceutical companies in 60 countries and counts Teva Pharmaceutical Industries LtdThe company said it has received license fee commitments of up to $1.15 billion under these partnerships, about 80% of the amount is still to be collected.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Tech IPOs have been a bad bet in 2021 — all but one are in bear market territoryOf the more than 50 U.S. tech companies to go public this year through an IPO, SPAC or direct listing, only one of them is less than 20% off its high price.
Lire la suite »
Federal regulators are investigating the Trump SPAC dealFederal regulators have requested information on a planned deal to take former President Trump's new media venture public
Lire la suite »
EV maker Lucid gets SEC subpoena on $24-bln blank-check dealThe U.S. securities regulator has asked Lucid Group Inc for documents related to an investigation into its blank-check deal, joining a growing list of companies that have come under scrutiny for their merger with shell companies.
Lire la suite »
Known For Its Startup Data, Crunchbase's Software Business Is Quietly Making MillionsThe startup expects 80 million visitors to its website next year but the enterprise software it's been building has it on track to record $38 million in ARR this year.
Lire la suite »
Najafi Companies Reaches Deal to Buy STX, Ending Merger With ErosThe troubled marriage between STX Entertainment and Eros is dissolving. The Najafi Companies announced Tuesday that it has reached an agreement to acquire the studio behind “Bad Moms” a…
Lire la suite »
Tom Holland and Zendaya Open Up About Their Romance—and Going Public—for the First TimeTom Holland and Zendaya spoke about their relationship for the first time in a new ‘GQ’ profile of Holland. The two stars were candid about the struggles they face keeping that part of their life together private.
Lire la suite »