Theratechnologies, Inc. ( THTX ) shares are moving higher on Friday following Future Pak‘s proposal to acquire the company for $255 million.

The Details: Future Pak would acquire the company for about $255 million, with $205 million in cash at closing and up to $50 million in contingent value right payments.

The offer implies between a 164% to 238% premium to Theratechnologies’ closing stock price of $1.33 on April 10.

“To move this process forward efficiently and deliver compelling value to Theratechnologies’ shareholders, we have submitted multiple offers outlining a flexible and attractive framework,” said Nirav Patel, Chief Growth Officer at Future Pak.

“We believe this proposal provides significant upside and a solid foundation for constructive dialogue, with the goal of achieving a mutually beneficial transaction.”

Future Pak said it received minimal engagement from Theratechnologies ( THTX ).

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THTX Price Action: At the time of writing, Theratechnologies ( THTX ) shares are trading 45.8% higher at $1.94, according to data from Benzinga Pro.

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