Theratechnologies Announces Completion of Acquisition by Future Pak
Theratechnologies (NASDAQ: THTX) has completed its previously announced acquisition by Future Pak's affiliate CB Biotechnology. Under the arrangement, shareholders will receive US$3.01 per share in cash plus one contingent value right (CVR) worth up to US$1.19 in additional payments if certain milestones are achieved.
The fair market value of each CVR has been determined to be US$0.80 as of September 24, 2025. Following the acquisition, Theratechnologies shares will be delisted from both the Toronto Stock Exchange and Nasdaq Capital Market, and the company will cease to be a reporting issuer in Canada while deregistering shares under U.S. securities laws.
Theratechnologies (NASDAQ: THTX) ha completato l'acquisizione annunciata in precedenza da CB Biotechnology, affiliata di Future Pak. In base all'accordo, gli azionisti riceveranno 3,01 USD per azione in contanti più un diritto a valore contingente (CVR) worth up to 1,19 USD in pagamenti aggiuntivi se saranno raggiunti determinati traguardi.
Il valore di mercato equo di ogni CVR è stato stimato in 0,80 USD al 24 settembre 2025. Dopo l'acquisizione, le azioni di Theratechnologies verranno cancellate sia dalla Toronto Stock Exchange sia dal Nasdaq Capital Market, e la società non sarà più un emittente soggetto a obblighi di segnalazione in Canada, deregistrando anche le azioni ai sensi delle leggi sui titoli statunitensi.
Theratechnologies (NASDAQ: THTX) ha completado la adquisición anunciada previamente por CB Biotechnology, afiliada de Future Pak. Según el acuerdo, los accionistas recibirán US$3.01 por acción en efectivo más un derecho de valor contingente (CVR) con valor de hasta US$1.19 en pagos adicionales si se alcanzan ciertos hitos.
El valor razonable de cada CVR se ha fijado en US$0.80 a 24 de septiembre de 2025. Tras la adquisición, las acciones de Theratechnologies serán retiradas tanto de la Toronto Stock Exchange como del Nasdaq Capital Market, y la compañía dejará de ser un emisor sujeto a reportes en Canadá, al tiempo que se cancelará el registro de sus acciones conforme a las leyes de valores de EE. UU.
Theratechnologies (NASDAQ: THTX)가 Future Pak의 계열사 CB Biotechnology가 앞서 발표한 인수를 완료했습니다. 합의에 따라 주주들은 주당 현금 3.01 USD를 받고, 특정 이정표가 달성되면 추가 지급이 가능한 컨틴전트 가치권(CVR)을 최대 1.19 USD까지 받게 됩니다.
각 CVR의 공정시장가치는 2025년 9월 24일 기준 0.80 USD로 결정되었습니다. 인수 이후 Theratechnologies의 주식은 토론토 증권거래소와 나스닥 카피탈 마켓에서 상장폐지되며, 회사는 캐나다에서 보고 공시 의무를 상실하고 미국 증권법에 따라 주식의 등기가 해제됩니다.
Theratechnologies (NASDAQ : THTX) a terminé l'acquisition annoncée précédemment par l'affilié CB Biotechnology de Future Pak. Conformément à l'accord, les actionnaires recevront 3,01 USD par action en espèces, plus un droit à valeur conditionnelle (CVR) d'une valeur allant jusqu'à 1,19 USD de paiements supplémentaires si certains jalons sont atteints.
La juste valeur marchande de chaque CVR a été déterminée à 0,80 USD au 24 septembre 2025. Suite à l'acquisition, les actions de Theratechnologies seront radiées de la Toronto Stock Exchange et du Nasdaq Capital Market, et la société cessera d'être un émetteur soumis à des obligations de reporting au Canada tout en procédant au deregistrage des actions en vertu des lois sur les valeurs mobilières américaines.
Theratechnologies (NASDAQ: THTX) hat die zuvor angekündigte Übernahme durch CB Biotechnology, eine Tochtergesellschaft von Future Pak, abgeschlossen. Gemäß der Vereinbarung erhalten die Aktionäre 3,01 USD pro Aktie in bar sowie ein Contingent Value Right (CVR), das bis zu 1,19 USD an zusätzlichen Zahlungen wert sein kann, falls bestimmte Meilensteine erreicht werden.
Der faire Marktwert jedes CVR wurde zum 24. September 2025 auf 0,80 USD festgelegt. Nach der Übernahme werden Theratechnologies-Aktien sowohl von der Toronto Stock Exchange als auch vom Nasdaq Capital Market gestrichen, und das Unternehmen wird kein berichtspflichtiger Emittent mehr in Kanada sein, während die Registrierung der Aktien gemäß US-Wertengesetzen aufgehoben wird.
أنهت Theratechnologies (بورصة ناسداك: THTX) الاستحواذ المعلن عنه سابقاً من قبل CB Biotechnology، التابعة لـ Future Pak. وفقاً للاتفاق، سي الحصول المساهمون على 3.01 دولار أمريكي نقداً لكل سهم بالإضافة إلى حق قيمة مشروط (CVR) يصل إلى 1.19 دولار أمريكي كدفعات إضافية إذا تم تحقيق بعض المعالم.
تم تحديد القيمة السوقية العادلة لكل CVR بمقدار 0.80 دولار أمريكي حتى 24 سبتمبر 2025. عقب الاستحواذ، ستُسحب أسهم Theratechnologies من بورصة تورنتو و Nasdaq Capital Market، وستتوقف الشركة عن كونها مصدرًا مُبلغًا عنه في كندا مع deregistering الأسهم وفق قوانين الأوراق المالية الأمريكية.
Theratechnologies（NASDAQ：THTX） 已完成 Future Pak 的子公司 CB Biotechnology 先前宣布的收购。根据安排，股东将获得每股 3.01 美元的现金，以及一个价值可变的权利（CVR），如达到某些里程碑，额外支付最高可达 1.19 美元。每个 CVR 的公允市场价值在 2025 年 9 月 24 日 被确定为 0.80 美元。收购完成后，Theratechnologies 的股票将从多伦多证券交易所和纳斯达克资本市场退市，公司将不再是加拿大的披露发行人，并将根据美国证券法对股票进行注销。
- Total potential value of US$4.20 per share (US$3.01 cash + US$1.19 CVR)
- Immediate cash payment provides guaranteed value to shareholders
- Additional upside potential through CVR payments tied to milestone achievements
- Delisting from both TSX and Nasdaq removes public trading opportunity
- CVR payments of US$1.19 are not guaranteed and depend on milestone achievements
- Company will no longer be required to provide public financial disclosures
Insights
Future Pak's acquisition of Theratechnologies is now complete at $3.01 per share plus potential additional $1.19 through contingent value rights.
Future Pak has officially completed its acquisition of Theratechnologies, a commercial-stage biopharmaceutical company, through its affiliate CB Biotechnology. The transaction follows the previously announced plan of arrangement and has now received all necessary approvals.
The deal structure provides shareholders with
The transaction structure utilizing CVRs is a strategic approach that bridges valuation gaps between buyers and sellers in biotech acquisitions. This mechanism allows Future Pak to pay a lower upfront price while giving former Theratechnologies shareholders potential upside if the company meets certain performance targets under new ownership.
As a result of the acquisition, Theratechnologies will be delisted from both the Toronto Stock Exchange and Nasdaq Capital Market within days. The company will cease to be a reporting issuer in Canada and will deregister its shares under U.S. securities laws, transitioning from a public to private entity under Future Pak's ownership.
This acquisition reflects ongoing consolidation in the biopharmaceutical sector, where established commercial-stage companies with promising pipelines become attractive targets for strategic buyers seeking to expand their portfolio or capabilities.
MONTREAL, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (TSX: TH) (NASDAQ: THTX), a commercial-stage biopharmaceutical company, announced today the completion of the previously-announced plan of arrangement under Chapter XVI – Division II of the Business Corporations Act (Québec) involving CB Biotechnology, LLC (the “Purchaser”), an affiliate of Future Pak, LLC (“Future Pak”), pursuant to which the Purchaser has acquired all the issued and outstanding common shares of the Company (the "Shares") for US
Consideration for the Shares has been remitted by the Purchaser to Computershare Investor Services Inc., as depositary under the Arrangement, and will be paid to former shareholders of Theratechnologies as soon as reasonably practicable after the date hereof (or, in the case of registered shareholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the share certificate(s) and/or DRS Advice(s) representing Shares formerly held by them).
Each CVR is a contractual right that entitles the holder thereof to aggregate payments from the Purchaser of up to US
As a result of the completion of the Arrangement, it is expected that the Shares will be de-listed from the Toronto Stock Exchange on or about September 26, 2025 and from the Nasdaq Capital Market on or about September 25, 2025. The Company shall apply to cease to be a reporting issuer under Canadian securities laws in all provinces of Canada. The Company will also deregister the Shares under the U.S. Securities Exchange Act of 1934, as amended.
Early Warning Reporting
Immediately prior to the effective date of the Arrangement, the Purchaser and its affiliates did not own any Shares. An early warning report will be filed on SEDAR+ at www.sedarplus.ca under the Company's profile. Further information and/or a copy of the early warning report may be obtained from the contacts below. The Purchaser's head office is located at CB Biotechnology, LLC c/o Honigman LLP, 2290 First National Building, 660 Woodward Avenue, Detroit, MI 48226-3506.
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 its website at www.theratech.com.
About Future Pak
Founded in 1977 and headquartered in Wixom, Michigan, Future Pak, along with its affiliates, is a privately held contract manufacturer, packager and distributor of pharmaceutical and nutraceutical products. Future Pak operates across retail, specialty and institutional markets, leveraging its robust infrastructure and partner network to deliver quality-first, patient-centric solutions.
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”, “if”, “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, statements regarding the delisting of the Shares from the Toronto Stock Exchange and from the Nasdaq Capital Market, the Company ceasing to be a reporting issuer under Canadian securities laws in all provinces of Canada and the deregistration of the Shares under the U.S. Securities Exchange Act of 1934, as amended.
These Forward-Looking Statements express, as of the date of this press release, the estimates, predictions, projections, expectations, or opinions of the Company about future events or results, as well as other assumptions, both general and specific, that the Company believes are appropriate in the circumstances. Although the Company believes that the expectations produced by these Forward-Looking Statements are founded on valid and reasonable bases and assumptions, these Forward-Looking Statements are inherently subject to important risks and uncertainties, many of which are beyond the Company’s control, such that actual results may differ significantly from those that are disclosed in or implied by such Forward-Looking Statements. The important risks and uncertainties include, but are not limited to, the possibility that the Shares will not be delisted from the Toronto Stock Exchange or the Nasdaq Capital Market within the timing currently contemplated, that the Shares may not be delisted at all, due to failure to satisfy, in a timely manner or otherwise, conditions necessary for the delisting of the Shares or for other reasons, that the Company’s application to cease to be a reporting issuer under applicable Canadian securities laws may not be accepted or may be delayed and that the Company may fail to achieve any milestones relating to the CVRs.
Readers are cautioned that the foregoing list of factors is not exhaustive and undue reliance should not be placed on Forward-Looking Statements. As a result, readers are advised that actual results may differ materially from expected results. Unless otherwise required by applicable securities laws, the Company expressly disclaims any intention, and assumes no obligation to update or revise any Forward-Looking Statements whether as a result of new information, future events or otherwise.
For further information, please contact:
Future Pak
Investors and media may contact media@futurepak.com.
FAQ
What is the total value of the Theratechnologies (THTX) acquisition by Future Pak?
What is the fair market value of the CVR in the Theratechnologies acquisition?
When will Theratechnologies (THTX) be delisted from stock exchanges?
How will former Theratechnologies shareholders receive their payment?
What happens to Theratechnologies' reporting obligations after the acquisition?
