Thorne HealthTech Announces Pricing of Initial Public Offering
Rhea-AI Summary
Thorne HealthTech has announced the pricing of its initial public offering (IPO) of 7,000,000 shares at $10.00 each, aiming for gross proceeds of approximately $70 million. The shares will trade on the Nasdaq under the ticker symbol THRN, starting September 23, 2021, with the offering expected to close on September 27, 2021, pending customary conditions. The underwriters have a 30-day option for an additional 1,050,000 shares. This IPO reflects Thorne HealthTech's position as a leader in personalized health solutions.
Positive
- Initial public offering of 7 million shares priced at $10 each, raising approximately $70 million.
- Strong investor interest indicated by the underwriters' option for an additional 1,050,000 shares.
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- None.
NEW YORK, Sept. 22, 2021 /PRNewswire/ -- Thorne HealthTech, a leader in developing innovative solutions for a personalized approach to health and wellbeing, today announced the pricing of its initial public offering of 7,000,000 shares of its common stock at a price to the public of
The shares are expected to begin trading on the Nasdaq Global Select Market on September 23, 2021, under the ticker symbol "THRN," and the offering is expected to close on September 27, 2021, subject to customary closing conditions.
BofA Securities, Cowen and Evercore ISI are acting as lead book-running managers for the proposed offering. RBC Capital Markets is acting as an additional book-running manager.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on September 22, 2021. The offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to the initial public offering may be obtained from: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department; Email: dg.prospectus_requests@bofa.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by email at ecm.prospectus@evercore.com or by telephone at (888) 474-0200.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About Thorne HealthTech
Thorne HealthTech is a leader in developing innovative solutions for a personalized approach to health and wellbeing. Thorne HealthTech is a science-driven wellness company that is utilizing testing and data to create improved product efficacy and deliver personalized solutions to consumers, health professionals, and corporations. Thorne HealthTech's unique, vertically integrated brands, Thorne and Onegevity, provide insights and personalized data, products, and services that help individuals take a proactive and actionable approach to improve and maintain their health over a lifetime.
CONTACTS
Media
Isabella Wiltse
thornemedia@edelman.com
Investors
Danielle O'Brien
thorneIR@edelman.com
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SOURCE Thorne HealthTech
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