Theratechnologies Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
MONTREAL, April 16, 2020 (GLOBE NEWSWIRE) -- Theratechnologies Inc., or Theratechnologies (TSX: TH) (NASDAQ: THTX), a commercial-stage biopharmaceutical company, announced today that Paul Lévesque, the current President and Chief Executive Officer of Theratechnologies, was granted 487,421 stock options, or Options, to purchase an aggregate of 487,421 common shares of Theratechnologies under Nasdaq Listing Rule 5635(c)(4). The grant was made outside of Theratechnologies’ existing share option plan, or Plan, in connection with Mr. Lévesque’s previously-announced employment by Theratechnologies as its President and Chief Executive Officer. The Options were granted as an inducement material to Mr. Lévesque becoming the President and Chief Executive Officer of Theratechnologies on April 6, 2020.
The Options have an exercise price per share equal to $2.87, which was the closing price of Theratechnologies’ common shares on the Toronto Stock Exchange on April 14, 2020. The Options have a ten-year term and will vest in equal annual installments over a three-year period beginning on April 15, 2021, subject to Mr. Lévesque’s continued employment by Theratechnologies on the applicable vesting dates. All of the other terms and conditions of the Options are those set forth in Theratechnologies’ Plan.
Theratechnologies (TSX: TH) (NASDAQ: THTX) is a commercial-stage biopharmaceutical company addressing unmet medical needs by bringing to market specialized therapies for people with orphan medical conditions, including those living with HIV. Further information about Theratechnologies is available on the Company's website at www.theratech.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
This press release contains forward-looking statements and forward-looking information, or, collectively, forward-looking statements, within the meaning of applicable securities laws, that are based on our management’s beliefs and assumptions and on information currently available to our management. You can identify forward-looking statements by terms such as "may", "will", "should", "could", “would”, "outlook", "believe", "plan", "envisage", "anticipate", "expect" and "estimate", or the negatives of these terms, or variations of them. Forward-looking statements are based upon a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Theratechnologies’ control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. We refer potential investors to the "Risk Factors" section of our annual information form dated February 24, 2020 and to our Form 40-F dated February 25, 2020 filed on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov), respectively, for risks regarding the conduct of our business and Theratechnologies. The reader is cautioned to consider these and other risks and uncertainties carefully and not to put undue reliance on forward-looking statements. Forward-looking statements reflect current expectations regarding future events and speak only as of the date of this press release and represent our expectations as of that date. We undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise, except as may be required by applicable law.
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