Arbutus plans $230M share repurchase via Dutch auction tender offer

Arbutus Biopharma Corporation (Nasdaq: ABUS) announced plans to launch a modified "Dutch Auction" tender offer to repurchase up to $230 million of its common shares, according to a press release.

The company said the offer price range would be between $5.00 and $5.75 per share in cash, less any applicable withholding taxes and without interest. The offer is expected to commence on or about Aug. 24, 2026, and expire on or about Sept. 29, 2026, unless extended or terminated. Arbutus said the offer would be funded through cash on hand.

The offer is subject to receiving exemptive relief under applicable securities laws in Canada and the United States, which Arbutus said it has applied for. The company said it expects to commence the offer promptly following receipt of that relief.

Lindsay Androski, President and CEO of Arbutus, attributed the planned repurchase to proceeds from a March 2026 settlement with Moderna, with an initial payment received in July 2026. Androski said the company and its exclusive licensee Genevant will "continue to vigorously enforce our rights against infringers, including Pfizer and BioNTech."

J.P. Morgan Securities LLC will serve as dealer-manager for the offer. Georgeson LLC and TSX Trust Company will serve as information agent and depositary, respectively.

Arbutus noted that the offer has not yet commenced and there is no assurance it will proceed on the stated terms or at all.

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