Oaktree Acquisition II expects to transition to trading on the Nasdaq from the NYSE if shareholders approve the SPAC’s proposed merger with Alvotech Holdings, a global biopharmaceutical company focused on the development and manufacture of biosimilar medicines. The shareholder vote is set for tomorrow.
Oaktree II expects the last day of trading on the NYSE to be June 15, with the switch to the Nasdaq starting the following day. If approved, the combined company will trade on the Nasdaq under ALVO.
As announced in December, the combination is expected to deliver gross proceeds to Alvotech in excess of $450 million. The deal has an implied enterprise value of $2.25 billion. Read more.
