Oddity to repurchase 2.35M shares from L Catterton for $100M

Oddity (ODD) announced that it has entered into a transaction with a fund managed by L Catterton to repurchase approximately 2.35M Class A Ordinary Shares of the company for a total cash consideration of approximately $100M, at a purchase price of $42.501 per share. The transaction is independent of the company’s standing share buyback plan-announced on June 7 and authorizing the company to purchase up to $150M of the company’s shares over three years-which will continue as planned subject to its terms, including the availability of distributable funds. After the closing of the transaction, L Catterton will own approximately 4M shares, representing approximately 7% of the company’s ordinary shares outstanding as of September 30, 2024, pro forma for the transaction.