Exhibit 99.1
Theratechnologies Announces Pricing of US$25 Million Public Offering of Common Shares and Concurrent
Private Placement
This news release constitutes a designated news release for the purposes of the Companys
prospectus supplement dated December 16, 2021 to its short form base shelf prospectus dated December 14, 2021.
Common
shares priced at US$1.00 per share
Montreal, Quebec, October 26, 2023 Theratechnologies Inc.
(Theratechnologies or the Company) (Nasdaq: THTX; TSX: TH), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has priced its previously announced
public offering (the Public Offering) of 12,500,000 common shares of the Company (the Common Shares) at a public offering price of US$1.00 per Common Share (the Offering Price). The gross proceeds of the Public
Offering are expected to be approximately US$12,500,000, before deducting the underwriting discounts and commissions and other estimated offering expenses. The Company has also granted the underwriter a 30-day
option (the Option) to purchase up to 1,875,000 Common Shares at the Offering Price, less underwriting discounts and commissions.
Cantor
Fitzgerald & Co. is acting as sole bookrunner for the Public Offering.
In connection with the Public Offering, the Company entered into a
subscription agreement with Investissement Québec for a concurrent private placement (the Concurrent Private Placement) of 9,118,184 Common Shares and 3,381,816 fully-funded, non-voting
subscription receipts, exchangeable into Common Shares on a one-for-one basis (the Exchangeable Subscription Receipts) in lieu of Common Shares, in each
case, at the Offering Price, for US$12,500,000 aggregate gross proceeds, less a capital commitment fee of 1.5% payable to Investissement Québec. The component of the Concurrent Private Placement in the form of Exchangeable Subscription
Receipts is designed to ensure that, following completion of the Public Offering and the Concurrent Private Placement, Investissement Québec does not have beneficial ownership or control over more than 19.9% of the issued and outstanding
Common Shares and therefore is not a control person within applicable Canadian securities laws.
The Company will also enter into an investor
rights agreement, pursuant to which Investissement Québec will be entitled to nominate one director to the Companys board of directors for as long as it holds 50% of the Common Shares purchased pursuant to the Concurrent Private
Placement. Copies of the subscription agreement, the exchangeable receipt agreement setting forth the terms and condition of the Exchangeable Subscription Receipts and the investor rights agreement, when available, will be filed on SEDAR+ at
www.sedarplus.ca. Summaries of the subscription agreement and the exchangeable receipt agreement and a copy of the investor rights agreement, when available, will be filed on EDGAR at www.sec.gov.