Alvotech Received Conversion Notices for Majority of Convertible Bonds Into Ordinary Shares At The Fixed Conversion Price Of $10.00 Per Share Prior To Maturity Date Of July 1, 2024
Portfolio Pulse from Benzinga Newsdesk
Alvotech has received conversion notices for the majority of its convertible bonds into ordinary shares at a fixed conversion price of $10.00 per share, ahead of the maturity date of July 1, 2024.
June 26, 2024 | 8:56 am
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Alvotech has received conversion notices for the majority of its convertible bonds into ordinary shares at a fixed conversion price of $10.00 per share, ahead of the maturity date of July 1, 2024. This could lead to an increase in the number of outstanding shares, potentially diluting existing shareholders' value.
The conversion of bonds into shares will increase the total number of outstanding shares, which can dilute the value of existing shares. This is generally perceived negatively by the market, leading to a potential short-term decline in the stock price.
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