PureTech Health (GB:PRTC) has released an update.
PureTech Health, a clinical-stage biotherapeutics company, has completed a heavily oversubscribed tender offer for its shares, resulting in the buyback of 31,540,670 ordinary shares at a fixed price for a total of $100 million. Due to oversubscription, share tenders were scaled down pro-rata, and the buyback represents about 12% of the company’s issued ordinary share capital. Following the repurchase, the shares will be canceled, reducing PureTech’s total issued ordinary share capital and voting rights.
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