Votes WITHHOLD against board directors Phyllis Gardner and James Bierman at 2022 Annual Meeting to send a message to MiMedx
Demands Management and the Board Show Confidence in MiMedx and Alignment With Shareholders’ Interests by PURCHASING SHARES
Will Vote AGAINST Approval of Executive Compensation Following Egregious Share Grants to Management
BATON ROUGE, La., May 31, 2022 /PRNewswire/ — Prescience Point Capital Management LLC (“Prescience Point”), a research-focused, catalyst-driven investment firm that beneficially owns approximately 6.7% of the outstanding common stock of MiMedx Group, Inc. (“MDXG” or the “Company”) (NASDAQ:MDXG), today released a presentation detailing the colossal failures and massive value destruction that have taken place under the Company’s current Board of Directors and management. The presentation also documents a misalignment of interests that has given an incentive to management, the Board and EW Healthcare Partners (“EW”) to keep MDXG’s share price depressed.
The presentation reinforces Prescience Point’s decision to WITHHOLD its votes against two members of MDXG’s Board – Phyllis Gardner and James Bierman – who are up for election at the Company’s annual meeting of shareholders on June 7, 2022, and to vote AGAINST approval of the executive compensation package.
You can view and download the presentation HERE.
Prescience Point continues to believe that MiMedx is a promising biotech company with best-in-class products that improve patients’ lives, whose enormous potential is being squandered by the self-serving, negligent and value destructive actions of an inept Board and management.
“MDXG’s recent history is one of chronic value destruction caused by the failed strategies and operational missteps of the Board and management. These missteps notably include the gross mismanagement of the Company’s Phase 2b knee OA and …
