litigation
confidence high
sentiment positive
materiality 0.85
Biote settles stockholder litigation with $60M share repurchase and earnout cancellation
biote Corp.
- Repurchases ~8.3M shares from Marci Donovitz for $60M ($7.23 avg) over 3 years.
- Cancels ~4.0M earnout shares owned by Donovitz for no additional consideration.
- Combined with prior Dr. Gary Donovitz deal, total 26.7M shares repurchased and 8.0M earnout shares cancelled.
- First tranche: ~4.1M shares for $30M due by June 28, 2024.
- Mutual release of all litigation claims; parties to negotiate a voting agreement.