secwatch.observer — SEC 8-K summary
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Issuer:     biote Corp. (BTMD)
CIK:        0001819253
Form:       8-K
Filed at:   2024-06-21T23:59:59+00:00
Accession:  0001193125-24-164885
Event type: litigation
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Biote settles stockholder litigation with $60M share repurchase and earnout cancellation
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819253/000119312524164885/0001193125-24-164885-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819253/000119312524164885/d837825d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-164885

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer