Theratechnologies Inc. closes public offering of common shares and concurrent private placement with Investissement Quebec for a total amount of US25$M

On October 31, 2023, Theratechnologies Inc. ("Thera") announced that it closed the public offering of common shares worth US$12.5 million and concurrent private placement with Investissement Quebec worth US$12.5 million of 9,1181184 common shares and 3,381,816 fully-funded, non-voting subscription receipts, exchangeable into common shares. The public offering of 12,500,000 common shares of Thera is priced at US$1.00 per share, with 1,875,000 of common shares granted to the underwriter as a purchase option within 30 days of closing at the offering price.

The deal stipulates that Investissement Quebec cannot have beneficial ownership or control over more than 19.9% of the issued and outstanding Common Shares and therefore is not a 'control person' within applicable Canadian securities law. At the date of closing, Investissement Quebec owns approximately 19.9% of common shares, and is entitled to nominate one director to Thera's board of directors for as long as it holds 50% of the common shares purchased via the private placement.

Investissement Quebec, is an investment company that support businesses that want to expand into Quebec or open a Quebec subsidiary through organizing visits, financing, strategic alliances, and assistance in operating.

Theratechnologies Inc., based in Montreal, Quebec, is a biopharmaceutical company that commercializes two medicines in HIV and has research programs in HIV, NASH and Oncology.

McCarthy Tétrault advised Investissement Quebec with a team led by Hadrien Montagne that included Isabelle Nazon, Jessica Vona and Kim Godbout (Business).