Thorne HealthTech Goes Private In $680M Cash Deal With L Catterton; Stock Soars

Thorne HealthTech Inc THRN has entered into a definitive agreement to be acquired by L Catterton, a global consumer-focused investment firm, at $10.20 per share in cash.

The transaction value of about $680 million represents a 94% premium to the unaffected closing share price on July 20, 2023, and a 30% premium to the last closing price of $7.81 on August 25, 2023.

Thorne's independent special committee and Board of Directors have each unanimously approved the agreement and recommended that all stockholders tender their shares in the tender offer.

"Together with their deep expertise in the health and wellness industry, global reach, and extensive operational capabilities, I am confident L Catterton is the right partner to fuel Thorne's long-term growth," said Chairman and CEO Paul Jacobson.

 The transaction is expected to be completed in the fourth quarter of 2023.

Upon completion of the transaction, Thorne will become a privately held company, and its shares of common stock will no longer be listed on any public market.

Price Action: THRN shares are trading higher by 29.3% at $10.10 on the last check Monday.