Cellular Biomedicine Group, Inc. (Nasdaq: CBMG) (“Company,” “CBMG,” “we” or “our”), a biopharmaceutical firm engaged in the drug development of immunotherapies for cancer and stem cell therapies for degenerative diseases, announced today that leading proxy advisory firms Glass, Lewis & Co. and Institutional Shareholder Services Inc. have both recommended that the Company’s stockholders vote FOR the proposal to adopt the definitive merger agreement that provides for the acquisition of CBMG for $19.75 in cash per share of common stock in a going private transaction (the “merger proposal”).
The Company will hold a special meeting of the stockholders on February 8, 2021 at 9:00 a.m. Eastern time, at 9605 Medical Center Drive, Suite 100, 1st floor, Rockville, Maryland 20850. At the special meeting, stockholders will be asked to consider and vote on the merger proposal and certain other proposals described in detail in the Company’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on December 29, 2020. Stockholders of record as of the close of business, Eastern time, on December 18, 2020 will be entitled to vote at the special meeting and any adjournment thereof.
Stockholders of record are encouraged to vote promptly by telephone or over the Internet—by following the instructions indicated on their proxy cards—to ensure that their shares are represented at the special meeting. A failure to vote on the merger proposal will have the same effect as a vote against the merger proposal.
Source: Biospace
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