03:53 AM EDT, 03/19/2024 (MT Newswires) -- PureTech Health ( PRTC ) said Tuesday it has proposed a capital return of $100 million to shareholders through a tender offer.

The company aims to launch the tender offer after releasing its full-year results in April, subject to shareholder approval. The capital return represents about 14% of the company's market capitalization based on its closing share price on Monday, PureTech said.

The company is also planning to return any remaining capital through a special dividend if the capital return is not fully completed.

In February, PureTech completed a $50 million share buyback program.