Thorne Healthtech, Inc.: M&A transaction — Thorne HealthTech acquires PreCon Health for $5M cash to bolster brain health portfolio

Thorne Healthtech, Inc.

Acquired all outstanding shares of PreCon Health on Jan 31, 2023, for $5.0M in cash.
Deal provides access to PreCon's brain health products, IP, and top-tier Medical and Scientific Advisory Board.
Thorne and PreCon previously partnered in 2021 to launch SynaQuell and SynaQuell+ supplements.
Thorne may pay future royalties to Eigenlyfe on certain supplement sales upon meeting profit criteria.
Ongoing Mayo Clinic clinical trials (NCT05041192, NCT05498818) study SynaQuell's effect on brain function.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Thorne Healthtech, Inc. completed an acquisition involving PreCon Acquisition LLC for $5.0 million in cash (closed 2023-01-31).

Action: acquisition
Counterparty: PreCon Acquisition LLC
Consideration: $5.0 million in cash
Closing: 2023-01-31

Exact text from the filing

(the “Purchase Agreement”) with PreCon Acquisition LLC, the holder of the Shares and Eigenlyfe LLC (“Eigenlyfe”). Thorne acquired the Shares for an aggregate purchase price of $5.0 million in cash. Thorne will also be obligated to pay royalties to Eigenlyfe on sales of certain nutritional supplements upon achieving certain profit criteria, as described in the

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Thorne Healthtech, Inc. entered into Purchase Agreement with PreCon Acquisition LLC and Eigenlyfe LLC valued at $5.0 million (effective 2023-01-31).

Action: entry
Agreement: asset purchase
Counterparty: PreCon Acquisition LLC and Eigenlyfe LLC
Value: $5.0 million
Effective: 2023-01-31

Exact text from the filing

On January 31, 2023, Thorne HealthTech, Inc. (“Thorne”, or the “Company”), acquired all of the outstanding shares (the “Shares”) of PreCon Health, Inc., a Delaware corporation (“PreCon”), pursuant to a stock purchase agreement (the “Purchase Agreement”) with PreCon Acquisition LLC, the holder of the Shares and Eigenlyfe LLC (“Eigenlyfe”). Thorne acquired the Shares for an aggregate purchase price of $5.0 million in cash.

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Source: SEC EDGAR

accession 0000950170-23-001743

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