Leading independent proxy advisor Institutional Shareholder Services Inc. (ISS) has recommended that Paratek Pharmaceuticals, Inc. stockholders vote in favor of the company’s acquisition by Gurnet Point Capital and Novo Holdings A/S. ISS’s impartial analysis supports the transaction, emphasizing its immediate value, liquidity, upfront cash payment certainty, and potential upside participation through the CVR. The voting deadline for online votes is 11:59 pm on September 17, 2023.
Paratek Pharmaceuticals, Inc. (“Paratek”) (Nasdaq: PRTK), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for life-threatening diseases and other public health threats, today announced that leading independent proxy advisor Institutional Shareholder Services Inc. (“ISS”) has recommended that stockholders vote FOR the Company’s previously announced definitive agreement to be acquired by Gurnet Point Capital (“Gurnet Point”) and Novo Holdings A/S (“Novo Holdings”).
ISS is an independent proxy advisory firm whose clients include many of the world’s leading institutional investors. Such investors rely on ISS’s objective and impartial analysis to make important voting decisions.
“We are pleased to receive ISS’s independent recommendation for the transaction. The transaction was the result of a robust process led by the independent members of the Board and offers stockholders immediate value, liquidity, certainty of the upfront cash payment and upside participation through the CVR. Stockholders are encouraged to vote FOR the transaction today,” said Dr. Jeffrey Stein, Ph.D., Lead Independent Director of Paratek’s board of directors (the “Board”).
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Stockholders are urged to vote online today to ensure their votes are received on time. The deadline for online votes to be received is 11:59pm on September 17, 2023.
Source: BioSpace