biote (BTMD) has shared an announcement.
Biote Corp. has reached a settlement with shareholder Dr. Gary S. Donovitz, agreeing to repurchase various stock interests from him for $76.9 million, with payments spread over three years starting with $32.2 million paid on April 26, 2024. The settlement includes a mutual release of claims, termination of Donovitz’s founder advisory agreement, non-compete and non-solicitation agreements, and a voting agreement. This move follows litigation between the parties and the settlement terms will be detailed in the Company’s next quarterly report.
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