Thorne HealthTech Goes Private In $680M Cash Deal With L Catterton; Stock Soars
Portfolio Pulse from Shivani Kumaresan
Thorne HealthTech Inc (NASDAQ:THRN) is set to be acquired by L Catterton, a global consumer-focused investment firm, in a $680 million cash deal. The transaction, which represents a 94% premium to the unaffected closing share price on July 20, 2023, and a 30% premium to the last closing price of $7.81 on August 25, 2023, is expected to be completed in Q4 2023. Post-acquisition, Thorne will become a privately held company and its shares will no longer be listed on any public market.
August 28, 2023 | 3:23 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Thorne HealthTech's acquisition by L Catterton at a significant premium is likely to have a positive short-term impact on its stock price. However, as the company will go private post-acquisition, its shares will no longer be listed on any public market.
The acquisition deal represents a significant premium to Thorne HealthTech's unaffected closing share price and last closing price, which is likely to drive its stock price up in the short term. However, as the company will go private post-acquisition, its shares will no longer be listed on any public market, making this a critical news for its investors.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100