DLA Piper advises Haymaker Acquisition Corp. III in business combination with BioTE Holdings, LLC

DLA Piper represented Haymaker Acquisition Corp. III, a special purpose acquisition company, in its business combination with BioTE Holdings, LLC (Biote), a high-growth, differentiated medical practice-building business within the hormone optimization space. Upon closing, the combined company’s Class A common stock is expected to be traded on the Nasdaq Stock Market under the symbol “BTMD.”

Biote delivers a comprehensive, end-to-end platform that provides practitioners with medical education, training and certification, practice management software and digital and point-of-care marketing support. Biote-certified practitioners deliver personalized hormone replacement therapy to relieve the symptoms of hormonal imbalance, which affects approximately 200 million Americans. Since its founding in 2012, Biote has grown its network of medical providers to 4,700 practitioners in the US.

The transaction, which has been approved by the members and board of managers of Biote and the Board of Directors of Haymaker, is subject to approval by Haymaker’s stockholders and other customary closing conditions. The proposed business combination is expected to be completed in the first half of 2022.

“It was a pleasure to bring together our market-leading SPAC and M&A capabilities to advise Haymaker in this business combination,” said Sidney Burke, the DLA Piper partner who led the firm’s deal team.

In addition to Burke (New York), the DLA Piper team advising Haymaker included partners Stephen Alicanti, Drew Young and Christopher Mikson (Philadelphia), and associates Carina Meleca, Andrew Wolfe (both of New York), Michael Slovak (Miami) and Brenna Kelly (Philadelphia).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for ten consecutive years, according to Mergermarket.