Business combination with Haymaker
Acquisition Corp. III complete
biote Corp.’s common stock will trade on the
Nasdaq Stock Exchange under ticker symbol “BTMD”
biote Corp., (Nasdaq: BTMD) (“Biote” or the “Company”), a high
growth, differentiated medical practice-building business within
the hormone optimization space, today announced that it has
completed its business combination with Haymaker Acquisition Corp.
III (Nasdaq: HYAC) (“Haymaker”), a special purpose acquisition
company. The business combination, which was approved by Haymaker’s
stockholders at its special meeting held on May 24, 2022, as well
as the credit facilities entered into in connection with the
closing of the business combination, provides the capital to
accelerate growth in core markets and new geographies.
Following the transaction, the combined company was renamed
biote Corp., and its Class A common stock and warrants will begin
trading on the Nasdaq Stock Exchange under the symbols “BTMD” and
“BTMDW,” respectively, beginning on May 27, 2022.
“Since its founding, Biote has been dedicated to transforming
the large and often-overlooked hormone optimization market. We
believe we have a best-in-class provider support network that
provides tremendous benefits to both healthcare practitioners and
their patients suffering from hormone imbalance who want to feel
their best,” said Terry Weber, Chief Executive Officer of Biote.
“This transaction further strengthens Biote’s balance sheet as we
continue to expand, execute on our vision, and further solidify our
position as the premier hormone optimization company. We recently
reported strong results for the first quarter of 2021, and we look
forward to sharing our second quarter results in August.”
Biote has developed a high-growth practice-building business
within the hormone optimization space. Similar to a franchise
model, Biote provides the necessary components to enable
Biote-certified practitioners to establish, build, and successfully
implement a program designed to optimize hormone levels using
personalized solutions for their patient populations. The “Biote
Method” is a comprehensive, end-to-end practice-building platform
that provides Biote-certified practitioners with the following
components specifically developed for practitioners in the hormone
optimization space: Biote Method education, training and
certification, practice management software, inventory management
software, and information regarding available hormone replacement
therapy (“HRT”) products, as well as digital and point-of-care
marketing support. Biote also sells a complementary Biote-branded
line of dietary supplements. The Company generates revenue by
charging Biote-partnered clinics fees associated with the support
Biote provides for the clinic’s HRT procedures and from the sale of
Biote-branded dietary supplements.
Advisors
Jefferies acted as financial and capital markets advisor to
Biote. Haymaker engaged Citi as a placement agent and financial
advisor, Truist Securities, Inc. (“Truist”) as a placement agent
and capital markets advisor, and William Blair as a placement
agent, financial advisor and capital markets advisor, and in
October 2021 Haymaker engaged Alvarium MB (US) BD, LLC as a
placement agent and financial advisor.
Cooley LLP served as legal advisor to Biote. DLA Piper LLP (US)
served as legal advisor to Haymaker Acquisition Corp. III.
About Biote
Biote is a woman-led company operating a high growth,
differentiated medical practice-building business within the
hormone optimization space. Biote trains practitioners how to
identify and treat early indicators of hormone-related aging
conditions.
Forward Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the federal U.S. securities laws with respect
to the business combination between Haymaker and Biote, the
benefits of the transaction, the services and markets of Biote, our
expectations regarding future growth, results of operations,
performance, future capital and other expenditures, competitive
advantages, business prospects and opportunities, future plans and
intentions, results, level of activities, performance, goals or
achievements or other future events. These forward-looking
statements generally are identified by words such as “anticipate”,
“believe”, “expect”, “may”, “could”, “will”, “potential”, “intend”,
“estimate”, “should”, “plan”, “predict”, or the negative or other
variations of such statements, reflect our management’s current
beliefs and assumptions and are based on the information currently
available to our management. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual results or developments to differ materially from
those expressed or implied by such forward-looking statements,
including but not limited to: (i) the effect of the announcement of
the completion of the business combination on Biote’s business
relationships, operating results and business generally; (ii) risks
that the transaction disrupts current plans and operations of
Biote; (iii) the outcome of any legal proceedings that may be
instituted against Biote related to the business combination
agreement or the transaction; (iv) the ability to maintain the
listing of Biote’s securities on a national securities exchange;
(v) changes in the competitive industries in which Biote operates,
variations in operating performance across competitors, changes in
laws and regulations affecting Biote’s business and changes in the
combined capital structure; (vi) the ability to implement business
plans, forecasts and other expectations after the completion of the
proposed transaction, and identify and realize additional
opportunities; (vii) the risk of downturns in the market and
Biote’s industry including, but not limited to, as a result of the
COVID-19 pandemic; (viii) costs related to the transaction and the
failure to realize anticipated benefits of the transaction or to
realize estimated pro forma results and underlying assumptions,
including with respect to estimated stockholder redemptions; and
(ix) risks and uncertainties related to Biote’s business,
including, but not limited to, those related to regulation, its
supply chain, its executive influence, its limited operating
history, highly competitive markets and competition, data privacy
and cybersecurity, its ability to grow, its financial condition and
potential dilution, its forecasts, expansion, intellectual
property, current or future litigation, capital requirements and
the need for additional capital, physician training, relationships
with physicians, its key employees and qualified personnel,
third-party manufacturers, regulatory scrutiny of the pharmacy
compounding industry, health care fraud and abuse, HIPAA, and its
dietary supplement business. The foregoing list of factors is not
exclusive. You should carefully consider the foregoing factors and
the other risks and uncertainties described in the “Risk Factors”
section of the proxy statement and other documents filed by Biote
from time to time with the SEC. These filings identify and address
other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date on which they are made, and Biote does not assume
any obligation to update or revise any forward-looking statements
or other information contained herein, whether as a result of new
information, future events or otherwise. You are cautioned not to
put undue reliance on these forward-looking statements. Biote does
not give any assurance that it will achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220526005530/en/
Media Sean Leous Sean.Leous@westwicke.com Karen Chase
Karen.Chase@westwicke.com Investors Mike Cavanaugh
Mike.Cavanaugh@westwicke.com
Haymaker Acquisition Cor... (NASDAQ:HYAC)
Gráfico Histórico do Ativo
De Jan 2025 até Fev 2025
Haymaker Acquisition Cor... (NASDAQ:HYAC)
Gráfico Histórico do Ativo
De Fev 2024 até Fev 2025
