06:21 AM EDT, 07/03/2025 (MT Newswires) -- Theratechnologies Inc. ( THTX ) , a commercial-stage biopharmaceutical company, was at last look up more than 30% in US premarket on Thursday as it is to be boughty by CB Biotechnology, LLC, an affiliate of Future Pak, LLC, a privately held contract manufacturer, packager and distributor of pharmaceutical and nutraceutical products, for a total of US$254 million.

Under the agreement, the purchaser will acquire all the issued and outstanding common shares of Theratechnologies ( THTX ) for US$3.01 per share in cash plus one contingent value right per share for additional aggregate cash payments of up to US$1.19 per CVR if certain milestones as described are achieved. The total transaction consideration, assuming full payment of the CVRs, is US$254 million.

A statement noted the cash portion of the consideration offered to the company's shareholders under the transaction and the combined cash and CVR consideration (assuming maximum payment of the CVR) represent substantial and compelling premiums of 126% and 216%, respectively, to the closing price on the Nasdaq Capital Market on April 10, 2025, the date prior to the announcement of Future Pak's initial non-binding proposal, and of 90% and 165%, respectively, to the 30-day volume weighted average share price for the period ending on April 10, 2025.

Theratechnologies ( THTX ) said the arrangement agreement is the result of the sale process previously announced by it that was led by a special committee of independent directors.

"This transaction is the result of a thorough and deliberate sale process aimed at maximizing value for our shareholders," said Frank A. Holler, Chair of the Board of Directors.

"This acquisition marks a watershed moment in the nearly 50-year history of Future Pak, and the evolution of a growth strategy implemented nearly a decade ago," said Nirav Patel, Chief Growth Officer at Future Pak. "The addition of the Theratechnologies' ( THTX ) portfolio will expand our reach, drive further growth and enhance patient access."

TH was down $0.04 at $3.21 on the TSX yesterday.