“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.”
This document does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. Further, the discussions and opinions contained in this press release are for general information only and are not intended to provide investment advice. All statements in this press release that are not clearly historical in nature or necessarily dependent on future events are “forward-looking statements”, which are not guarantees of future performance or results, and the words “anticipate “, “believe”, “expect”, “potential”, “could”, “opportunity”, “estimate” and similar expressions are generally intended to identify forward-looking statements. Projected results and statements contained in this press release that are not historical facts are based on current expectations, speak only as of the date of this press release, and involve risks that may cause actual results to materially different. Certain information included in this document is based on data obtained from sources believed to be reliable. No representation is made as to the accuracy or completeness of this data, and any analysis provided to assist the recipient of this presentation in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one of the alternative methodologies that produce different results. Accordingly, any analysis should also not be relied upon as factual, nor should it be considered an accurate prediction of future results. All figures are unverified estimates and subject to revision without notice. Prescience Point disclaims any obligation to update the information contained herein and reserves the right to modify any of its opinions expressed herein at any time as it deems appropriate. Past performance does not represent future results.
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