Oaktree Acquisition II said its shareholders voted in favor of combining with Alvotech Holdings S.A., a global biotech company focused on the development and manufacture of biosimilar medicines.
The deal is expected to close June 15.
Neither the press release nor a subsequent 8-K filing mentioned redemptions, if any. Oaktree II in April had announced a $250 million backstop against any redemptions.
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.
The combined company is expected to trade on the Nasdaq under ALVO. Read more.
