PureTech Health (LSE: PRTC) is showering shareholders with a $100 million tender offer, sending their stock price soaring by nearly 10% on Tuesday.
This shareholder-centric move allows investors to cash in on their holdings at a premium price. The tender offer, launching after the company’s annual report in April, will repurchase shares at 250 pence each, a significant 25% increase over the recent average trading price.
This $100 million allocation represents a hefty chunk of PureTech’s market cap, roughly 14%. Any remaining funds after the tender offer will be distributed as a special dividend, ensuring maximum shareholder benefit.
“This tender offer reflects our commitment to rewarding our valued shareholders,” declared CEO Daphne Zohar. “By returning capital and providing liquidity, we’re strengthening our relationship with investors while maintaining a robust balance sheet to fuel future advancements in our development pipeline.”
This shareholder bonanza follows PureTech’s recent $50 million share buyback program and the $14 billion sale of Karuna Therapeutics.
Year to date, PureTech Heath’s stock is up 17%.
Subscribe to Investomania for more PureTech Health news and updates.
