Arbutus Biopharma Corporation (NASDAQ: ABUS) announced plans for a modified Dutch Auction tender offer to repurchase up to $230 million in common shares at a price range of $5.00 to $5.75 per share in cash.
The buyback, expected to launch on or about Monday, is subject to exemptive relief under U.S. and Canadian securities laws, including requirements for a proportionate tender feature. Arbutus has applied for the necessary approvals and anticipates commencing the offer once received. The tender is slated to close on or about September 29, 2026, unless extended or terminated.
Funding for the repurchase stems from settlement proceeds with Moderna, received under a patent agreement finalized in March 2026 and an initial payment made in July 2026. The company, which develops treatments for chronic hepatitis B, intends to return these proceeds to shareholders via the buyback.
Arbutus, through its exclusive licensee Genevant, continues to enforce patent litigation against Pfizer and BioNTech regarding lipid nanoparticle technology. The tender offer is structured to repurchase shares using cash on hand, with J.P. Morgan Securities LLC acting as dealer-manager, Georgeson LLC as information agent, and TSX Trust Company as depositary.
The company has not yet commenced the tender offer and cautions that terms may change or the process may not proceed as described.
