MeiraGTx repurchases $18.2 million in shares from Perceptive fund

MeiraGTx Holdings plc (NASDAQ: MGTX) completed a $18.2 million share repurchase from Perceptive Life Sciences Master Fund on December 31, according to a company statement.

The gene therapy company purchased 2.3 million ordinary shares at $7.91 per share, representing the volume-weighted average price on the Nasdaq Global Select Market on December 31. Perceptive Master Fund, an affiliate of Perceptive Advisors, sold the shares as part of year-end portfolio tax optimization activities.

Under the share purchase agreement, Perceptive Master Fund and its affiliates agreed to a 12-month lock-up period, during which they cannot sell, transfer or dispose of any ordinary shares or securities convertible into MeiraGTx shares, subject to certain exceptions.

Perceptive Master Fund and its affiliates collectively own more than 10% of MeiraGTx's outstanding ordinary shares. Perceptive Credit Holdings III, another affiliate, holds a $75 million note issued by MeiraGTx under an amended notes purchase agreement from December 2022. Perceptive Credit Holdings consented to the share repurchase in accordance with the notes purchase agreement terms.

Ellen Hukkelhoven, a MeiraGTx board member, serves as Head of Biotechnology Investments at Perceptive Advisors.

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