Theratechnologies Announces Important Sale Process Evaluation
MONTREAL — Theratechnologies Inc. (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company at the forefront of innovating therapies, has recently taken significant steps in consideration of its future direction. Following careful examination of multiple factors, including an unsolicited proposal from Future Pak, the Company’s Board of Directors has chosen to explore a potential sale through a transparent, non-exclusive process.
Formation of a Special Committee
To efficiently oversee this evaluation, the Board has established a Special Committee, which is comprised of independent, disinterested directors. This committee has been tasked with ensuring that all proposals are thoroughly reviewed and that recommendations are made to the full Board based on their findings.
Engagement of Advisors
To support its strategic review, Theratechnologies has enlisted the expertise of various advisors. Barclays continues to serve as the financial advisor, while Fasken provides legal counsel. Additionally, Raymond James has joined as an independent financial advisor, and Norton Rose Fulbright offers their legal expertise as well. This robust advisory team will help navigate the complexities of potential transactions.
Operational Continuity Amid Evaluations
The Company reassures all stakeholders, including its clients, employees, and partners, that its daily operations are proceeding without disruption. While discussions regarding the sale process are ongoing, Theratechnologies remains committed to its operational objectives.
Understanding the Context of the Proposal
While the proposal from Future Pak is a key focus, the Company acknowledges that there is no guarantee that this or any other discussions will lead to a finalized transaction. As the process unfolds, Theratechnologies will maintain transparency as required by applicable securities laws but will refrain from providing ongoing commentary on the negotiations.
Future Directions for Theratechnologies
Theratechnologies continues to advocate for their innovative therapies aimed at redefining healthcare standards. The Company’s commitment to bringing forth groundbreaking treatments remains unwavering, and they are diligently assessing their options to maximize stakeholder value and support continued growth.
Investor and Media Relations
The Company recognizes the importance of open channels of communication during this transition. For any inquiries, investors can reach out directly to Philippe Dubuc, Senior Vice President and CFO, at pdubuc@theratech.com or contact him at 438-315-6608. Meanwhile, media inquiries can be directed to Julie Schneiderman, Senior Director of Communications & Corporate Affairs, at communications@theratech.com or 514-336-7800.
Frequently Asked Questions
What is the purpose of the Special Committee formed by Theratechnologies?
The Special Committee is responsible for overseeing the sale evaluation process and making recommendations to the Board of Directors.
What companies are advising Theratechnologies during the sale process?
Theratechnologies has engaged Barclays and Raymond James as financial advisors, and Fasken and Norton Rose Fulbright are providing legal advisors.
Will Theratechnologies continue its operations during the sale process?
Yes, Theratechnologies assures all stakeholders that its operations will continue as normal throughout the sale evaluation.
Is there a certainty that a deal with Future Pak will occur?
There is no guarantee that discussions with Future Pak or other interested parties will conclude in a transaction.
How can investors and media contact Theratechnologies?
Investors can contact Philippe Dubuc at pdubuc@theratech.com. Media inquiries can be directed to Julie Schneiderman at communications@theratech.com.
