biote (BTMD) has released an update.
Biote Corp. has reached a significant settlement with shareholder Dr. Gary S. Donovitz, agreeing to repurchase his shares for roughly $76.9 million over a staggered schedule within the next three years. This settlement resolves the ongoing litigation, includes mutual releases of all claims, terminates Donovitz’s founder advisory agreement, and establishes non-compete and non-solicitation clauses. Additionally, a voting agreement is to be negotiated, ensuring a smooth path forward for the company. The details of the settlement were released in a press announcement by the company.
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