Biote Settles Litigation and Repurchases Shares from Founder

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.

For detailed information about BTMD stock, go to TipRanks’ Stock Analysis page.