/NOT FOR DISTRIBUTION TO UNITED
STATES OF AMERICA WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES OF
AMERICA/
TORONTO, May 19, 2023
/CNW/ - This press release is being disseminated as required by
National Instrument 62–103 - The Early Warning System and
Related Take Over Bids and Insider Reporting Issuers in
connection with the filing of an early warning report (the
"Early Warning Report") regarding the acquisition of
securities of Theratechnologies Inc. (TSX: TH) (NASDAQ: THTX) (the
"Issuer"), with its head office located at 2015, rue Peel,
11e étage, Montréal, PQ H3A 1T8, by Soleus Capital Master Fund,
L.P. ("Soleus Master Fund"), with its head office located at
104 Field Point Road, 2nd Floor, Greenwich, CT 06830.
On November 11, 2022, Soleus
Master Fund purchased 7,000 Common Shares of the Issuer ("Common
Shares") over the NASDAQ at a price of US$1.92 per share, for aggregate proceeds of
US$13,440 (the
"Transaction").
Prior to the Transaction, Soleus Master Fund owned 8,118,909
Common Shares and warrants ("Warrants") to acquire up to
1,550,000 Common Shares at an exercise price of US$3.14 per share expiring on January 19, 2024. Following the Transaction,
Soleus Master Fund owned 8,125,909 Common Shares and 1,550,000
Warrants representing approximately 8.54% of the issued and
outstanding Common Shares on a non-diluted basis and approximately
10.01% of the issued and outstanding Common Shares on a partially
diluted basis assuming the exercise in full of the Warrants, based
upon 95,141,639 Common Shares being issued and outstanding as close
of business on August 31, 2022 as
reflected in the financial statements of the Issuer for the nine
month period ended August 31,
2022.
The Common Shares were acquired for investment purposes. Soleus
Master Fund has a long-term view of the investment and may acquire
additional securities either on the open market or through private
acquisitions or sell the securities either on the open market or
through private dispositions in the future depending on market
conditions, reformulation of plans and/or other relevant
factors.
A copy of the Early Warning Report with additional information
in respect of the foregoing matters may be found on
www.SEDAR.com and may be obtained from Steven Musumeci, Chief Operating Officer of
Soleus Capital Management, L.P. (475.208.3178).
SOURCE Theratechnologies Inc.
