Theratechnologies Provides Update on Sale Process
Theratechnologies (TSX: TH) (NASDAQ: THTX) has announced its Board of Directors' decision to evaluate a potential company sale through an open and non-exclusive process, following a proposal from Future Pak. The Special Committee, comprising independent and disinterested directors, will oversee the process and provide recommendations to the Board.
The company has expanded its advisory team, adding Raymond James as independent financial advisor and Norton Rose Fulbright as independent legal advisor, alongside existing advisors Barclays and Fasken. Theratechnologies emphasizes that normal operations will continue during these discussions, though there is no guarantee that talks with Future Pak or other parties will result in a transaction.
Theratechnologies (TSX: TH) (NASDAQ: THTX) ha annunciato la decisione del Consiglio di Amministrazione di valutare una possibile vendita dell'azienda tramite un processo aperto e non esclusivo, a seguito di una proposta da parte di Future Pak. Il Comitato Speciale, composto da amministratori indipendenti e imparziali, supervisionerà il processo e fornirà raccomandazioni al Consiglio.
L'azienda ha ampliato il suo team di consulenti, aggiungendo Raymond James come consulente finanziario indipendente e Norton Rose Fulbright come consulente legale indipendente, affiancando i consulenti già presenti Barclays e Fasken. Theratechnologies sottolinea che le operazioni ordinarie continueranno durante queste trattative, anche se non vi è alcuna garanzia che le discussioni con Future Pak o altri soggetti portino a una transazione.
Theratechnologies (TSX: TH) (NASDAQ: THTX) ha anunciado la decisión de su Junta Directiva de evaluar una posible venta de la empresa mediante un proceso abierto y no exclusivo, tras una propuesta de Future Pak. El Comité Especial, compuesto por directores independientes y sin intereses, supervisará el proceso y brindará recomendaciones a la Junta.
La compañía ha ampliado su equipo de asesores, incorporando a Raymond James como asesor financiero independiente y a Norton Rose Fulbright como asesor legal independiente, junto con los asesores actuales Barclays y Fasken. Theratechnologies enfatiza que las operaciones normales continuarán durante estas conversaciones, aunque no hay garantía de que las negociaciones con Future Pak u otras partes resulten en una transacción.
Theratechnologies (TSX: TH) (NASDAQ: THTX)는 Future Pak의 제안에 따라 공개적이고 비독점적인 절차를 통해 회사 매각 가능성을 평가하기로 이사회의 결정을 발표했습니다. 독립적이고 이해관계가 없는 이사들로 구성된 특별위원회가 이 절차를 감독하고 이사회에 권고안을 제공할 것입니다.
회사는 기존의 Barclays 및 Fasken 자문단과 함께 독립 금융 자문사인 Raymond James와 독립 법률 자문사인 Norton Rose Fulbright를 추가하여 자문팀을 확장했습니다. Theratechnologies는 이러한 논의 중에도 정상적인 운영이 계속될 것임을 강조하지만, Future Pak 또는 다른 당사자들과의 협상이 거래로 이어질 것이라는 보장은 없다고 밝혔습니다.
Theratechnologies (TSX : TH) (NASDAQ : THTX) a annoncé la décision de son conseil d'administration d'évaluer une éventuelle vente de l'entreprise via un processus ouvert et non exclusif, suite à une proposition de Future Pak. Le comité spécial, composé d'administrateurs indépendants et impartiaux, supervisera le processus et formulera des recommandations au conseil.
L'entreprise a renforcé son équipe de conseillers en ajoutant Raymond James en tant que conseiller financier indépendant et Norton Rose Fulbright en tant que conseiller juridique indépendant, aux côtés des conseillers actuels Barclays et Fasken. Theratechnologies souligne que les opérations normales se poursuivront durant ces discussions, bien qu'il n'y ait aucune garantie que les négociations avec Future Pak ou d'autres parties aboutissent à une transaction.
Theratechnologies (TSX: TH) (NASDAQ: THTX) hat die Entscheidung seines Vorstands bekannt gegeben, einen möglichen Verkauf des Unternehmens durch einen offenen und nicht exklusiven Prozess zu prüfen, nachdem ein Vorschlag von Future Pak eingegangen ist. Der Sonderausschuss, bestehend aus unabhängigen und unparteiischen Direktoren, wird den Prozess überwachen und dem Vorstand Empfehlungen geben.
Das Unternehmen hat sein Beratungsteam erweitert und Raymond James als unabhängigen Finanzberater sowie Norton Rose Fulbright als unabhängigen Rechtsberater hinzugefügt, neben den bestehenden Beratern Barclays und Fasken. Theratechnologies betont, dass der normale Geschäftsbetrieb während dieser Gespräche fortgesetzt wird, obwohl es keine Garantie dafür gibt, dass die Verhandlungen mit Future Pak oder anderen Parteien zu einer Transaktion führen.
- Company actively exploring strategic alternatives through formal sale process
- Multiple financial and legal advisors engaged to maximize potential transaction value
- Received acquisition interest from Future Pak
- No guarantee of successful transaction completion
- Uncertainty period for stakeholders during sale process evaluation
MONTREAL, April 15, 2025 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (TSX: TH) (NASDAQ: THTX), a commercial-stage biopharmaceutical company, today announced that following careful consideration of the current circumstances, including the publicly announced proposal from Future Pak, the Board of Directors of the Company (the “Board”) has decided to further evaluate the potential sale of the Company through an open and non-exclusive process. In connection with this determination, the Board has authorized the special committee, consisting of independent and disinterested directors (the “Special Committee”), to oversee the process and make a recommendation to the full Board. To support this process, in addition to Barclays as financial advisor and Fasken as legal advisor, the Special Committee has also engaged Raymond James as independent financial advisor and Norton Rose Fulbright as independent legal advisor.
There is no assurance that discussions with Future Pak or any other interested party will result in a transaction. The Company would like to reassure its clients, employees and partners that while these discussions may be ongoing, operations continue in the normal course.
The Company does not intend to provide further updates or comments with respect to the foregoing, other than as required pursuant to applicable securities laws.
About Theratechnologies
Theratechnologies (TSX: TH) (NASDAQ: THTX) is a specialty biopharmaceutical company focused on the commercialization of innovative therapies that have the potential to redefine standards of care. Further information about Theratechnologies is available on the Company's website at www.theratech.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Follow Theratechnologies on LinkedIn and X.
Forward-Looking Information
This press release contains forward-looking statements and forward-looking information (collectively, “Forward-Looking Statements”), within the meaning of applicable securities laws, that are based on our management’s beliefs and assumptions and on information currently available to our management. You can identify Forward-Looking Statements by terms such as “may”, “will”, “should”, “could”, “promising”, “would”, “outlook”, “believe”, “plan”, “envisage”, “anticipate”, “expect” and “estimate”, or the negatives of these terms, or variations of them. The Forward-Looking Statements contained in this press release include, but are not limited to: the unsolicited proposal received by the Company from Future Pak for the acquisition of the Company; the review and evaluation by the Special Committee of proposals received by the Company from potential acquirors; the process relating to such review and any potential outcomes thereof; and other statements that are not historical facts. Although the Forward-Looking Statements contained in this press release are based upon what the Company believes are reasonable assumptions in light of the information currently available, investors are cautioned against placing undue reliance on this information since actual results may vary from the Forward-Looking Statements. Forward-Looking Statements assumptions are subject to a number of risks and uncertainties, many of which are beyond Theratechnologies’ control, that could cause actual results to differ materially from those that are disclosed in or implied by such Forward-Looking Statements. These risks and uncertainties include, but are not limited to: the possibility that the Company, its Board, its Special Committee and a potential acquiror cannot come to an agreement on the terms and conditions of such potential acquiror’s proposal or will not proceed with giving shareholders an opportunity to accept or vote in favour of such proposal; if a definitive agreement is reached, the failure to obtain or satisfy, in a timely manner or otherwise, required shareholder, court and regulatory approvals and other conditions of closing necessary to complete the transaction; the possibility that the Special Committee’s review does not result in a transaction; credit, market, currency, operational, commodity, geopolitical, liquidity and funding risks generally, including changes in economic conditions, interest rates or tax rates; the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of a transaction; other risks inherent to the Company’s business and/or factors beyond its control which could have a material adverse effect on the Company or its ability to consummate a transaction to effect a potential acquiror’s proposal. The Company refers current and potential investors to the “Risk Factors” section of the Company’s Annual Information Form filed on Form 20-F dated February 26, 2025 available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov under Theratechnologies’ public filings for the risks associated with the business. The reader is cautioned to consider these and other risks and uncertainties carefully and not to put undue reliance on Forward-Looking Statements. Forward-Looking Statements reflect current expectations regarding future events and speak only as of the date of this press release and represent our expectations as of that date.
Contacts:
Investor inquiries:
Philippe Dubuc
Senior Vice President and Chief Financial Officer
pdubuc@theratech.com
438-315-6608
Media inquiries:
Julie Schneiderman
Senior Director, Communications & Corporate Affairs
communications@theratech.com
514-336-7800
FAQ
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