Puretech Health Plc (PRTC) has released an update.
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PureTech Health Plc has announced a $100 million capital return to shareholders through a Tender Offer set at 250 pence per share, a 25% premium over recent trading. This move comes after the company’s successful $14 billion sale of Karuna Therapeutics to Bristol Myers Squibb, from which PureTech will gain approximately $293 million. The Tender Offer, subject to shareholder approval and market conditions, will commence following the release of the company’s full-year results in April 2024, with plans to distribute any remaining funds as a special dividend.
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