Alvotech shares are trading lower after the company announced that holders of majority subordinated convertible bonds elected to convert the principal and accrued interest into ordinary shares at $10.00 per share.
Portfolio Pulse from Benzinga Newsdesk
Alvotech shares are trading lower after the company announced that holders of majority subordinated convertible bonds elected to convert the principal and accrued interest into ordinary shares at $10.00 per share.
June 26, 2024 | 5:39 pm
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Alvotech shares are trading lower due to the conversion of majority subordinated convertible bonds into ordinary shares at $10.00 per share.
The conversion of bonds into shares increases the total number of shares outstanding, which can dilute the value of existing shares. This is likely causing the share price to drop in the short term.
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IMPORTANCE 80
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