Ashurst advises on PureTech Health’s proposed US$100 million tender offer

Global law firm Ashurst is advising Jefferies International Limited, as financial adviser and broker, in relation to the proposed capital return of US$100 million to shareholders of PureTech Health plc by way of a tender offer.

Pursuant to the tender offer, up to 33,500,000 ordinary shares (including ordinary shares represented by American Depositary Shares) will be purchased by Jefferies, acting as principal, at a tender price of 250 pence per ordinary share. Any tendered shares will then be sold to the Company pursuant to the terms of a Put and Call Option Agreement. All of the ordinary shares purchased by the Company pursuant to these arrangements will be cancelled.

The proposed tender offer remains subject to the approval of shareholders, which will be sought at a general meeting of the Company to be held on 6 June. The closing date of the tender offer is 20 June 2024 with respect to ordinary shares (and 18 June 2024 with respect to American Depositary Shares).

The Ashurst team is being led by partners Simon Bullock, Stuart Rubin and Jeffrey Johnson, assisted by senior associate Louise Johnston and associate Vienna Linley. The wider team included UK tax partner Nicholas Gardner and tax counsel Mark Spinney, and New York-based tax partner Sharon Kim.

/Public Release.