Future Pak Submits Proposals to Acquire Theratechnologies Inc., Offering up to $255 Million in Total Value
WIXOM, Mich.--(BUSINESS WIRE)--April 11, 2025--
Future Pak, LLC ("Future Pak") today announced that it has submitted two
formal proposals since January to acquire all outstanding shares of
common stock of Theratechnologies Inc. ("Theratechnologies") (NASDAQ:
THTX). The most recent proposal, which remains open for consideration by
Theratechnologies and its Board of Directors, offers a cash
consideration of $3.51 to $4.50 per share.
The proposal represents a total enterprise value of up to $255 million,
comprising:
-- $205 million in cash at closing, and
-- Up to $50 million in contingent value right $(CVR)$ payments, including:
-- 50% of the annual EGRIFTA$(R)$ franchise gross profit (defined as
net sales minus cost of goods, per U.S. GAAP) above $30 million
annually for three years post-closing.
-- A $10 million one-time milestone payment if cumulative EGRIFTA
gross profit exceeds $125 million over the same three-year period.
This offer implies a 164% to 238% premium to Theratechnologies' closing
stock price of $1.33 as of April 10, 2025.
"To move this process forward efficiently and deliver compelling value
to Theratechnologies' shareholders, we have submitted multiple offers
outlining a flexible and attractive framework," said Nirav Patel, Chief
Growth Officer at Future Pak. "We believe this proposal provides
significant upside and a solid foundation for constructive dialogue,
with the goal of achieving a mutually beneficial transaction."
Despite repeated outreach and the submission of two detailed
proposals--each offering a premium of more than 100% over
Theratechnologies' trading price--Future Pak has received minimal
engagement from the company to date.
Future Pak confirms that the transaction would not be subject to a
financing contingency and has the full support of its strategic
financial partner, Colbeck Capital Management.
Future Pak has engaged Bourne Partners Securities LLC as financial
advisor and Honigman LLP as legal advisor. Given access to standard due
diligence materials, Future Pak believes it could reach a definitive
agreement and announce a transaction within four to six weeks.
By publicly disclosing its interest, Future Pak hopes to encourage
Theratechnologies shareholders to engage with the proposal and ensure
that the Board fulfills its duty to pursue the highest value outcome
available.
About Future Pak
Founded in 1977 and headquartered in Wixom, Michigan, Future Pak is a
privately held contract manufacturer and packager of pharmaceutical and
nutraceutical products. The company operates across retail, specialty,
and institutional markets, leveraging its robust infrastructure and
partner network to deliver quality-first, patient-centric solutions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250411477925/en/
CONTACT:
Investors and media may contact media@futurepak.com.
(END) Dow Jones Newswires
April 11, 2025 10:02 ET (14:02 GMT)
