Business
Biote Announces $20 Million Share Repurchase Authorization
IRVING, Texas--(BUSINESS WIRE)-- biote Corp. (NASDAQ: BTMD) (“Biote” or the “Company”), a leading solutions provider in preventive health care through the
About this update from Biote Corp.
[{"type":"text","content":" IRVING, Texas--(BUSINESS WIRE)--\nbiote Corp. (NASDAQ: BTMD) (“Biote” or the “Company”), a leading solutions provider in preventive health care through the delivery of personalized hormone optimization and therapeutic wellness, today announced that its Board of Directors has approved a $20 million share repurchase program of the Company's common stock. This approval grants Biote’s management the authority to repurchase outstanding shares of the Company’s common stock, from time to time, in the open market, in privately negotiated transactions and/or by such other means in accordance with applicable state and federal securities laws. This is the Company's first authorization for share repurchases.\n\n\nTerry Weber, Biote’s Chief Executive Officer, commented, \"As we continue to advance our strategic objectives and position Biote to become the leader in evidence-based therapeutic wellness, we remain confident in our growth opportunity and the outlook for our business. We believe that now is an ideal time to initiate a substantial share repurchase authorization. Supported by our strong balance sheet, we believe opportunistic share repurchases represent an efficient use of capital that can benefit our shareholders.\"\n\n\nThe timing of any repurchases under the share repurchase program will be at the discretion of management and will depend on a variety of factors including market conditions, contractual limitations and other considerations. The program may be expanded, modified, suspended or discontinued at any time, and does not obligate the Company to repurchase any dollar amount or number of shares.\n\n\nAbout Biote\n\n\nBiote is transforming healthy aging through innovative, personalized hormone optimization and therapeutic wellness solutions delivered by Biote-certified medical providers. Biote trains practitioners to identify and treat early indicators of aging conditions, an underserved global market, providing affordable symptom relief for patients and driving clinic success for practitioners.\n\n\nForward-Looking Statements\n\n\nThis press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking wor...