Latham & Watkins Advises on Thorne HealthTech IPO

Thorne HealthTech, a leader in developing innovative solutions for a personalized approach to health and well-being, has announced the pricing of its initial public offering of 7,000,000 shares of its common stock at a price to the public of US$10.00 per share. Thorne HealthTech has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Thorne HealthTech, are expected to be US$70.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The shares are expected to begin trading on the Nasdaq Global Select Market on September 23, 2021, under the ticker symbol THRN, and the offering is expected to close on September 27, 2021, subject to customary closing conditions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partners Stelios Saffos and Alison Haggerty and Chicago associate Scott Westhoff, with Chicago associate Kenneth Sands and New York associate Ian Lachow. Advice was also provided on tax matters by Chicago partner Joseph Kronsnoble, with Chicago associate Michael Zucker; on benefits & compensation matters by New York partner Bradd Williamson and New York counsel Rifka Singer, with New York associate Anne Bracaglia; on intellectual property matters by Bay Area partner Christopher Hazuka, with San Diego associates Robert Yeh and Michael Sweeney; on FDA/regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with Washington, D.C. associate Alyssa Lattner and San Diego associate Kiera Murphy; on data privacy & security matters by Bay Area counsel Heather Deixler; and on FCPA/OFAC matters by Washington, D.C. partner Daniel Dominguez.