Prescience Point Capital Management asks the MiMedx Group to immediately publish the preliminary results of the vote of its annual meeting

“We find it extremely suspicious that, although MiMedx stated during the annual meeting proceedings that nominees for directors Phyllis Gardner and James Bierman were re-elected, the Company did not take the usual step of promptly disseminating the preliminary results of the vote to all shareholders.”

“In the interest of full transparency, we are calling on MiMedx to immediately release the preliminary results of the annual meeting vote, so that the public can see if the board and management have lost the confidence of shareholders in the society.”

“We believe that MiMedx is delaying the release of the preliminary vote tally as these results will reveal widespread shareholder dissatisfaction. Based on our discussions with shareholders following the annual meeting, we believe that the vote count will show that a majority of shares held by unaffiliated and non-institutional shareholders were voted VERSUS nominees for the positions of incumbent directors of the Company, and VERSUS the “say-on-pay” proposal based on the compensation of the company’s executives.”

“If, as we believe, the unaffiliated portion of MiMedx’s shareholding is truly unified in their dissatisfaction with the status quo, we hope this will be the catalyst for the board and management to start leveraging MiMedx in the best interest of ALL shareholders, and put the Company on a more positive and constructive path.”


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About Prescience Point Capital Management

Prescience Point Capital Management is a private investment manager that uses forensic investigative techniques to uncover significant mispricings in global markets. He specializes in in-depth investigations of hard-to-analyze public companies to uncover important elements of the business that have been overlooked or overlooked by others.

Prescience Point manages private funds on behalf of its clients and principals and takes long and short positions in support of its research. Prescience Point invests in a wide range of stocks which it believes have abnormally large mismatches between the intrinsic value of their underlying businesses and the selling price of their securities. The company was founded by the investor Eiad Asbahi in 2009 and is headquartered in Baton Rouge, LA. Prescience Point Capital Management is a registered investment adviser with the state of louisiana. Follow @PresciencePoint.

SOURCE Prescience Point Capital Management