PureTech Health PLC - London-based biotherapeutics company - Launches tender offer to repurchase shares for a maximum consideration of USD100 million. The offer, set to run until June 18, will be for up to 33.5 million shares, around 12% of PureTech's share capital, at a fixed price of 250 pence each.
The tender price represents a 25% premium to PureTech's volume weighted average price over the three days to March 19, and a 13% premium to its closing price of 222p on May 16. If the USD100 million maximum amount is not reached, PureTech says it will return capital to shareholders by way of a special dividend.
Current stock price: 223.50 pence per share, up 1.6% in London on Monday morning
12-month change: up 5.9%
By Hugh Cameron, Alliance News reporter
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PureTech (PRTC)