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- Alvotech and SPAC Oaktree Acquisition Corp. II (NYSE:OACB) on Tuesday said that their planned merger was approved by OACB shareholders.
- OACB agreed to take Alvotech, a biopharmaceutical company developing biosimilars, public in Dec. 2021 at a $2.25B valuation.
- The merger is anticipated to close on or about June 15.
- Alvotech shares are expected to trade under the new ticker symbol “ALVO” from June 16 on Nasdaq.
- OACB stock -1.9% to $9.80 in aftermarket trading.