PureTech Health announces proposed capital return of $100M

PureTech Health announced a proposed capital return of $100M to its shareholders by way of a tender offer. The capital return of $100M represents approximately 14% of PureTech’s market capitalization based on yesterday’s closing price. This follows the company’s announcement that it will receive approximately $293M gross proceeds from its remaining stake in Karuna. The tender offer will be launched after the publication of the company’s FY24 results in April, subject to market conditions, and will require shareholder approval. A circular setting out the full terms of the tender offer and a timetable will be published upon launch. If the full $100M is not returned, then the company intends to return any remainder following the completion of the tender offer, by way of a special dividend.