Alvotech美股招股说明书(2026-06-15版)

SUBJECT TO COMPLETION, DATED JUNE 15, 2026 PRELIMINARY PROSPECTUS SUPPLEMENT(TO PROSPECTUS DATED OCTOBER 30, 2023) $ Ordinary Shares We are offeringordinary shares, with a nominal value of $0.01 per share, pursuant to this prospectus supplement andaccompanying prospectus. Our ordinary shares are listed on The Nasdaq Global Market (“Nasdaq”) and the Nasdaq Main Market in Iceland (the “NasdaqIceland Main Market”) under the symbol “ALVO.” Our warrants are listed on Nasdaq under the symbol “ALVOW.” Our SwedishDepositary Receipts (“SDRs”), each representing one ordinary share, are listed on Nasdaq Stockholm under the symbol “ALVOSDB.” On June 12, 2026, the closing price of our ordinary shares on Nasdaq was $4.17. On June 15, 2026, certain investors in the European Economic Area indicated an intent to subscribe or purchase up to$million of our ordinary shares in a private placement. We refer to this transaction as the “concurrent private placement.” Theshares will be offered solely to professional clients or eligible counterparties falling within article 1(4) of Regulation (EU) 2017/1129,at a price per share equal to the public offering price of our ordinary shares in this offering. Consummation of the concurrent privateplacement is conditioned on the closing of this offering and the satisfaction of certain other customary conditions, and is expected tooccur within seven business days following the closing of this offering. The consummation of this offering is not contingent on theconsummation of the concurrent private placement. We are a “foreign private issuer” under applicable Securities and Exchange Commission (“SEC”) rules and are eligible forreduced public company disclosure requirements. See “Prospectus Supplement Summary—Implications of Being a ‘Foreign PrivateIssuer.’” Investing in our securities involves a high degree of risk. You should review carefully the risks and uncertainties describedunder the heading “Risk Factors” on page S-7 of this prospectus supplement and in the documents that are incorporated byreference into this prospectus supplement. PerShareTotalOffering price$$Underwriting commissions(1)$$Proceeds to the Company (before expenses)$$ (1)We refer you to “Underwriting” beginning on page S-28 of this prospectus supplement for additional information regarding underwriting compensation. We have granted the underwriters an option to purchase up toof ordinary shares from us at the public offering price, lessunderwriting discounts and commissions, within 30 days from the date of the final prospectus supplement. Neither the Securities and Exchange Commission nor any state or other securities commission has approved ordisapproved of these securities or passed upon the accuracy or adequacy of this prospectus supplement or the accompanyingprospectus. Any representation to the contrary is a criminal offense. Joint Book-Running Managers Evercore ISI , 2026. The date of this prospectus supplement is TABLE OF CONTENTS Prospectus Supplement ABOUT THIS PROSPECTUS SUPPLEMENTPROSPECTUS SUPPLEMENT SUMMARYRISK FACTORSSPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTSUSE OF PROCEEDSDIVIDEND POLICYCAPITALIZATIONDILUTIONMATERIAL LUXEMBOURG INCOME TAX CONSIDERATIONSMATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONSUNDERWRITINGCONCURRENT PRIVATE PLACEMENTMATERIAL CHANGESSERVICE OF PROCESS AND ENFORCEMENT OF CIVIL LIABILITIES UNDER U.S. SECURITIES LAWSLEGAL MATTERSEXPERTSWHERE YOU CAN FIND MORE INFORMATIONINCORPORATION OF CERTAIN INFORMATION BY REFERENCE ProspectusABOUT THIS PROSPECTUSPROSPECTUS SUMMARYRISK FACTORSCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSOFFER AND LISTING DETAILSUSE OF PROCEEDSDESCRIPTION OF SHARE CAPITAL AND ARTICLES OF ASSOCIATIONDESCRIPTION OFDEBT SECURITIESDESCRIPTION OF WARRANTSDESCRIPTION OF RIGHTSDESCRIPTION OF UNITSTAXATION PLAN OF DISTRIBUTION38EXPENSES40SERVICE OF PROCESS AND ENFORCEMENT OF CIVIL LIABILITIESUNDER U.S. SECURITIES LAWS41LEGAL MATTERS43EXPERTS43WHERE YOU CAN FIND MORE INFORMATION44INFORMATION INCORPORATED BY REFERENCE44 ABOUT THIS PROSPECTUS SUPPLEMENT This document is part of the registration statement that we filed with the SEC using a “shelf” registration process and consists oftwo parts. The first part is this prospectus supplement, including the documents incorporated by reference, which describes the specificterms of this offering and also adds to and updates information contained in the accompanying prospectus. The second part, theaccompanying prospectus, including the documents incorporated by reference, gives more general information, some of which maynot be applicable to this offering. Generally, when we refer to the “prospectus” we are referring to both parts combined. If information in this prospectus supplement is inconsistent with the accompanying prospectus or with any document incorporatedby reference that was filed with the SEC before the date of this prospectus supplement, you should rely on this prospectus supplement.This pr