Oaktree Acquisition Corp. II
OACB
New York Stock Exchange9.38
USD
-0.11
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Oaktree Acquisition Corp. II
OACB
(New York Stock Exchange)
Recent
price
9.38
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Oaktree Acquisition Corp. II (OACB) operates as a blank check company whose primary purpose centers on pursuing a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination, targeting opportunities primarily in the industrial and consumer sectors; it holds cash equivalents from its initial public offering intended for such transactions and related activities including identifying and conducting due diligence on potential targets, negotiating and structuring acquisitions, and managing post-combination entities. Incorporated in 2020 and headquartered at 333 South Grand Avenue, 28th Floor, Los Angeles, California, the company completed its IPO in September 2020, raising $250 million in gross proceeds. Its sponsor affiliate relates to Oaktree Capital Management, L.P., a leading global investment manager founded in 1995. In its principal transaction, Oaktree Acquisition Corp. II completed a reverse merger with Alvotech Holdings S.A., a global biopharmaceutical company developing and manufacturing biosimilar medicines, on June 15, 2022, valuing the combined entity at an implied enterprise value of approximately $2.25 billion; the deal delivered gross proceeds exceeding $450 million to Alvotech, including cash from OACB's trust account, a private placement led by investors such as Suvretta Capital Management, CVC Capital Partners, and Temasek Holdings, and equity commitments from existing shareholders. Following the merger closing, OACB voluntarily delisted its securities from the New York Stock Exchange, with the combined company commencing trading on Nasdaq under the ticker ALVO on June 16, 2022. No subsequent major operational changes, acquisitions, funding rounds, or new product developments involving Oaktree Acquisition Corp. II as a standalone entity appear in recent records, as its activities culminated in the Alvotech business combination.
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