Exhibit 99.1
Biote Announces $20 Million Share Repurchase Authorization
IRVING, TX January 25, 2024 biote Corp. (NASDAQ: BTMD) (Biote or the Company), a leading solutions provider
in preventive health care through the delivery of personalized hormone optimization and therapeutic wellness, today announced that its Board of Directors has approved a $20 million share repurchase program of the Companys common stock.
This approval grants Biotes management the authority to repurchase outstanding shares of the Companys common stock, from time to time, in the open market, in privately negotiated transactions and/or by such other means in accordance with
applicable state and federal securities laws. This is the Companys first authorization for share repurchases.
Terry Weber, Biotes Chief
Executive Officer, commented, As we continue to advance our strategic objectives and position Biote to become the leader in evidence-based therapeutic wellness, we remain confident in our growth opportunity and the outlook for our business. We
believe that now is an ideal time to initiate a substantial share repurchase authorization. Supported by our strong balance sheet, we believe opportunistic share repurchases represent an efficient use of capital that can benefit our
shareholders.
The timing of any repurchases under the share repurchase program will be at the discretion of management and will depend on a variety
of factors including market conditions, contractual limitations and other considerations. The program may be expanded, modified, suspended or discontinued at any time, and does not obligate the Company to repurchase any dollar amount or number of
shares.
About Biote
Biote is transforming healthy
aging through innovative, personalized hormone optimization and therapeutic wellness solutions delivered by Biote-certified medical providers. Biote trains practitioners to identify and treat early indicators of aging conditions, an underserved
global market, providing affordable symptom relief for patients and driving clinic success for practitioners.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words may,
can, should, will, estimate, plan, project, forecast, intend, expect, hope, anticipate, believe,
seek, target, continue, could, might, ongoing, potential, predict, would and other similar expressions, are intended to identify
forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current