THRN - Thorne HealthTech gains on buyout by L Catterton for $10.20 per share in all-cash deal

2023-08-28 08:47:09 ET

• Thorne HealthTech ( NASDAQ: THRN ) has gained 28.9% in early trading on Monday after private equity firm L Catterton agreed to buy the provider of nutritional supplements for $10.20 per share in cash in a deal valued at $680 million .
• The deal represents a 94% premium to the unaffected closing share price on July 20, 2023, and a 113% premium to the 30-day volume-weighted average price as of the unaffected date of July 20, 2023.
• Thorne's independent special committee and board have each unanimously approved the agreement and recommend that all stockholders tender their shares in the tender offer.
• Upon completion of the deal, Thorne will become a privately held company, and its shares of common stock will no longer be listed on any public market.
• The deal is expected to be completed in the fourth quarter of 2023.

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