Arbutus Announces Intent to Repurchase Up to US$230 Million of its Common Shares Through Modified “Dutch Auction” Tender Offer
Arbutus Biopharma (Nasdaq: ABUS) plans to launch a modified “Dutch Auction” tender offer to repurchase up to US$230 million of its common shares.
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Rhea-AI Summary
Arbutus Biopharma (Nasdaq: ABUS) plans to launch a modified “Dutch Auction” tender offer to repurchase up to US$230 million of its common shares. The proposed cash offer would be at prices between US$5.00 and US$5.75 per share, funded from cash on hand.
The offer is expected to begin on or about August 24, 2026 and expire on or about September 29, 2026, unless extended or terminated. Commencement is conditional on Arbutus obtaining specified exemptive relief in Canada and the United States. J.P. Morgan Securities will act as dealer-manager, with Georgeson as information agent and TSX Trust as depositary.
Positive
- Up to US$230 million share repurchase via Dutch auction
- Tender price range of US$5.00–US$5.75 per share in cash
- Offer expected to be funded entirely from cash on hand
- Defined offer window from August 24 to September 29, 2026, unless changed
Negative
- Potential cash outflow of up to US$230 million to fund offer
- Offer conditional on exemptive relief, so may not proceed as described
News Explained
Arbutus proposes to use up to
Details
Market move: ABUS +9.22% in the Aug 21 session. share repurchase tender offer
On Aug 21, the day this news came out, ABUS closed 9.22% above the previous close. Argus tracked a peak move of +9.4% during that session. Argus tracked a trough of -8.8% from its starting point during tracking. Our momentum scanner recorded 23 alerts for this stock that day. Relative volume reached 219.3x the daily average during tracking.
Data tracked by StockTitan Argus for the Aug 21 session.
Key Figures
- Repurchase amount
- up to US$230 million
- Modified Dutch Auction tender offer
- Purchase price range
- US$5.00-US$5.75 per share
- Tender offer consideration
- Expected commencement
- August 24, 2026
- Offer expected to commence on or about this date
- Expected expiration
- September 29, 2026
- Offer expected to expire on or about this date
Historical Context
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Lower Q2 revenue and net loss offset stronger cash position and settlement proceeds.
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Settlement payment and international patent enforcement actions supported the corporate update.
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Settlement-related revenue and net income contrasted with ongoing hepatitis B development.
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FDA granted Fast Track designation for imdusiran in chronic hepatitis B.
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Moderna settlement and additional functional cures accompanied the annual financial results.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
dutch auction financial
tender offer financial
exemptive relief regulatory
schedule to regulatory
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WARMINSTER, Pa., Aug. 21, 2026 (GLOBE NEWSWIRE) -- Arbutus Biopharma Corporation (Nasdaq: ABUS) (“Arbutus” or the “Company”), a clinical-stage biopharmaceutical company focused on infectious disease, today announced plans to commence a modified “Dutch Auction” tender offer (the “Offer”) to repurchase up to US
“Our March 2026 settlement with Moderna, and the July 2026 initial payment under that settlement, were critical milestones in establishing for the world what most of the scientific community already knew: Arbutus’ lipid nanoparticle technology inventions opened the doors to an entirely new world of therapeutic treatments using nucleic acids,” said Lindsay Androski, President and CEO of Arbutus. “Today, we are thrilled to announce our intention to return the financial proceeds from this win to the shareholders who have stood by our side during this long process. We, alongside our exclusive licensee Genevant, will continue to vigorously enforce our rights against infringers, including Pfizer and BioNTech.”
About Tender Offer
The Offer described in this press release has not yet been commenced and there can be no assurance that Arbutus will commence the Offer on the terms described herein or at all. The Offer is subject to obtaining certain exemptive relief, which Arbutus has applied for, under applicable securities laws in Canada and the United States with respect to a proportionate tender feature and certain extension requirements to be included in the Offer. Arbutus expects to commence the Offer promptly following receipt of such exemptive relief. This press release is for informational purposes only and is not an offer to purchase or the solicitation of an offer to sell any common shares in any jurisdiction. The solicitation of offers to purchase common shares will be made only pursuant to the tender offer documents, including an Offer to Purchase and accompanying Issuer Bid Circular and related Letter of Transmittal and other related Offer documents, that the Company intends to distribute to shareholders, file with a tender offer statement on Schedule TO with the U.S. Securities and Exchange Commission (the “SEC”) and file with applicable Canadian securities regulatory authorities upon commencement of the Offer. The Offer will be subject to various terms and conditions as will be described in the Offer materials that will be distributed to Arbutus shareholders and publicly filed upon commencement in English, and for shareholders in Quebec, in French.
The Dealer-Manager for the Offer will be J.P. Morgan Securities LLC. Georgeson LLC and TSX Trust Company will serve as the Information Agent and Depositary for the Offer, respectively.
ARBUTUS SHAREHOLDERS ARE URGED TO READ THE TENDER OFFER STATEMENT (INCLUDING THE OFFER TO PURCHASE AND ISSUER BID CIRCULAR, RELATED LETTER OF TRANSMITTAL AND RELATED TENDER OFFER DOCUMENTS) WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED BY THE COMPANY WITH THE SEC AND THE APPLICABLE CANADIAN SECURITIES ADMINISTRATORS ON SEDAR+ BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION CONCERNING THE TERMS AND CONDITIONS OF THE OFFER.
Assuming the Offer is commenced, copies of the offer documents will be distributed by the Company to the Company’s shareholders at no expense to them. The tender offer statement on Schedule TO and the other Offer documents will also be available to shareholders free of charge at the SEC’s website at www.sec.gov, on SEDAR+ at www.sedarplus.ca and in the investors section of Arbutus’ website at investor.arbutusbio.com, or from the Information Agent.
About Arbutus
Arbutus Biopharma Corporation (Nasdaq: ABUS) is a clinical-stage biopharmaceutical company focused on infectious disease. The Company is currently developing imdusiran (AB-729) and an oral PD-L1 inhibitor (AB-101) for the treatment of cHBV infection. The Company is also consulting closely with and supporting its exclusive licensee, Genevant Sciences, to protect and defend its intellectual property, which is the subject of on-going lawsuits against Pfizer/BioNTech for use of Arbutus’ patented LNP technology in their COVID-19 vaccines. For more information, visit www.arbutusbio.com.
Forward-Looking Statements and Information
This press release contains forward-looking statements and forward-looking information. Forward-looking statements in this press release include statements about: the Company’s potential tender offer to repurchase its common shares, including the terms and conditions and the expected timing thereof, and other terms and conditions of the Offer, all of which involve known and unknown risks, uncertainties and other factors that may cause actual results and other events to be materially different from those expressed or implied in such forward-looking statements.
The forward-looking statements contained in this press release are subject to a number of material factors that could cause actual results to differ materially, including the risk that the Company may determine not to proceed with the Offer for any reason, or that Arbutus may not receive the necessary exemptive relief to proceed with the Offer under applicable securities laws in the United States and Canada on the timeline anticipated, or at all. With respect to the forward-looking statements contained in this press release, Arbutus has made numerous assumptions regarding, among other things: the Company’s financial performance; the continued demand for Arbutus’ assets; and the stability of economic and market conditions. While Arbutus considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.
A more complete discussion of the risks and uncertainties facing Arbutus appears in Arbutus’ Annual Report on Form 10-K for the most recent fiscal year as filed with the SEC, Arbutus’ Quarterly Reports on Form 10-Q and Arbutus’ continuous and periodic disclosure filings, which are available at www.sec.gov and at www.sedarplus.ca. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and Arbutus undertakes no obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.
Arbutus Biopharma Corporation / ir@arbutusbio.com
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