Biote Announces Approval to Relist on The Nasdaq Stock Market

Rhea-AI Summary

Biote Corp. has received approval from The Nasdaq Stock Market to relist its common stock and warrants. Trading will resume under the ticker symbols BTMD for common stock and BTMDW for warrants starting on August 29, 2022. CEO Terry Weber expressed gratitude for Nasdaq's support in confirming the company meets the initial listing criteria. Biote operates within the hormone optimization sector, providing practitioners with the necessary tools to establish and run hormone therapy centers.

Positive

• Approval from Nasdaq to relist common stock and warrants.
• Trading to resume under ticker symbols BTMD (common stock) and BTMDW (warrants) on August 29, 2022.
• Confirmation that Biote meets all applicable initial listing criteria.

Negative

• None.

Company will resume trading under its existing symbols “BTMD” and “BTMDW”

IRVING, Texas--(BUSINESS WIRE)-- biote Corp. (“Biote” or the “Company”), a high growth, differentiated medical practice-building business within the hormone optimization space, today announced that The Nasdaq Stock Market LLC (“Nasdaq”) has approved its application for the relisting of the Company’s common stock and warrants on The Nasdaq Global Market. The Company’s Class A common stock and warrants will resume trading effective with the open of the market on Monday, August 29, 2022 under the Nasdaq ticker symbols “BTMD” and “BTMDW,” respectively.

"We are pleased to be back trading on Nasdaq,” said Terry Weber, Chief Executive Officer of Biote. “We appreciate the team at Nasdaq for its prompt review of our application and for confirming that we meet all applicable initial listing criteria.”

About Biote

Biote is a woman-led company operating a high growth, differentiated medical practice-building business within the hormone optimization space. Similar to a franchise model, Biote provides the necessary components to enable practitioners to establish, build, and successfully operate a hormone optimization center to treat patients appropriate for therapy. Biote trains practitioners how to identify and treat early indicators of hormone-related aging conditions.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “may,” “can,” “should,” “will,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “hope,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “might,” “ongoing,” “potential,” “predict,” “would” and other similar expressions, are intended to identify forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual results or developments to differ materially from those expressed or implied by such forward-looking statements, including but not limited to: the success of our dietary supplements to attain significant market acceptance among clinics, practitioners and their patients; our customers’ reliance on certain third parties to support the manufacturing of bio-identical hormones for prescribers; our and our customers’ sensitive to regulatory, economic, environmental and competitive conditions in certain geographic regions; our ability to increase the use by practitioners and clinics of the Biote Method at the rate that we anticipate or at all; our ability to grow our business; the significant competition we face in our industry; our limited operating history; our ability to protect our intellectual property; the unpredictability of the effects of the COVID-19 pandemic; the heavy regulatory oversight in our industry; changes in applicable laws or regulations; the inability to profitably expand in existing markets and into new markets; the possibility that we may be adversely impacted by other economic, business and/or competitive factors and future exchange and interest rates. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Biote’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 and other documents filed by Biote from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Biote assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Biote does not give any assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220825005610/en/

Media

Press@biote.com

Investor

IR@biote.com

Source: Biote Corp.

FAQ

When will Biote resume trading on Nasdaq under the ticker BTMD?

Biote will resume trading on Nasdaq under the ticker BTMD on August 29, 2022.

What is the significance of Biote's relisting on Nasdaq?

The relisting on Nasdaq reflects Biote's compliance with initial listing criteria, which may enhance its visibility and credibility in the market.

Who confirmed Biote's eligibility for relisting on Nasdaq?

Terry Weber, the CEO of Biote, confirmed the company's eligibility for relisting on Nasdaq.

What are the ticker symbols for Biote's common stock and warrants?

The ticker symbol for Biote's common stock is BTMD, and for its warrants, it is BTMDW.