WW’s stock jumped more than 13% in after-hours trading following news of the deal Monday.
This photograph taken on February 23, 2023, in Paris, shows the anti-diabetic medication OzempicWW is reportedly hoping to close on the deal to buy weight loss-focused telehealth company Sequence, which boasts around 24,000 subscribers paying $99 a month, by the end of June.
Sequence is known for connecting customers with doctors who can prescribe drugs such as Wegovy and Ozempic for weight loss, which has been dubbed the “worst kept secret in Hollywood” for shedding pounds and has become a hot social media trend. WW agreed to pay $65 million in cash and $35 million in newly issued stock to Sequence’s owners, along with two more rounds of $16 million in cash paid out on the first and second anniversaries of the deal, according to theThe company’s stock jumped more than 13.4% in after-hours trading to $4.39.
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