Date Closed

October 31, 2023

Lead Office

Montréal

Value

25.00 Million USD

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).