AIM Stockholder Full Value Committee Reiterates Intent to Proceed with Nominations and Proxy Solicitation
16 Août 2022 - 10:05PM
Jonathan Jorgl, an AIM ImmunoTech Inc. (NYSE American: AIM),
(“AIM”) stockholder, together with his nominees, Robert L. Chioini
and Michael Rice (collectively, the “AIM Stockholder Full Value
Committee” or the “ASFV Committee”), today reiterated their
commitment to proceed with the solicitation of proxies for the
election of Mr. Chioini and Mr. Rice to the AIM board of directors
at the upcoming 2022 annual meeting.
“The actions of AIM are a desperate attempt and
part of a troubling pattern of AIM CEO Tom Equels and directors
William Mitchell and Stewart Appelrouth wasting corporate assets at
the expense of stockholders to do whatever it takes to ensure that
they run unopposed, including crafting up ‘conspiracy theories’ in
their effort to retain control and enrich themselves and deny
stockholders basic rights to nominate alternative directors, solely
to keep their gravy-train of excessive compensation going,” stated
Mr. Jorgl. “We are very pleased that the court has set the earliest
date possible for expedited proceedings on our matter, which we
expect will result in our nominations being allowed.”
Despite the continued attempt of CEO Tom Equels
and directors William Mitchell and Stewart Appelrouth to deny AIM
stockholders the fundamental right to a fair vote on the election
of directors, and the irresponsible waste of company money only to
further entrench and enrich themselves, the ASFV Committee is
confident that the pending proceedings in Delaware will show that
AIM’s attempted rejection of Mr. Jorgl’s notice of nominations was
improper. Mr. Jorgl believes that new, highly experienced directors
Mr. Chioini and Mr. Rice will unlock the value of AIM by executing
clinical studies and communicating transparently with stockholders
while bringing sorely needed governance and oversight to the
entrenched Board and CEO’s inadequate results and excessive
compensation.
In particular, the ASFV Committee notes that the
Delaware court is moving on an expedited basis and has scheduled
the hearing on Mr. Jorgl’s motion for a preliminary injunction for
October 5, 2022, while also ordering that the AIM annual meeting
not to be held any earlier than October 31, 2022. Therefore, AIM is
prevented from proceeding with the annual meeting and blocking the
nominations of Mr. Chioini and Mr. Rice prior to a court
ruling.
It is unfortunate that AIM’s board appears
intent on commencing their proxy solicitation efforts prior to
October 5th, causing confusion and likely resulting in AIM
incurring additional expenses by having to redistribute proxy
materials that are compliant with the federal proxy rules if the
court rules in favor of Mr. Jorgl, as the ASFV Committee fully
expects, rather than agreeing to a minimal delay in order to
provide clarity to stockholders. As a result, the ASFV Committee is
proceeding with its proxy solicitation and is confident that Mr.
Jorgl will prevail on his motion for preliminary injunction and
declaratory relief that the nominations are valid so that AIM
stockholders will ultimately decide who represents them on the
board of directors, and not CEO Tom Equels and directors William
Mitchell and Stewart Appelrouth.
The ASFV Committee urges AIM stockholders to
look for the ASFV Committee proxy statement once available and to
carefully review and consider Mr. Chioini’s and Mr. Rice’s
extensive experience for the director nominations, consider all
relevant information, including the outcome of the pending
proceedings, and to not be fooled or misled by AIM’s baseless
claims and false allegations, which will be meaningless once the
court decides in favor of Mr. Jorgl.
Important Information and Participants
in the SolicitationThe AIM Stockholder Full Value
Committee intends to file a proxy statement with the Securities and
Exchange Commission (“SEC”) to be used to solicit votes for the
election of its slate of highly-qualified director nominees at the
upcoming annual meeting of stockholders of AIM.
THE ASFV COMMITTEE STRONGLY ADVISES ALL
STOCKHOLDERS OF AIM TO READ THE PROXY STATEMENT AND OTHER PROXY
MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO
CHARGE ON THE SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION,
THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF
THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON
REQUEST.
The participants in the proxy solicitation are
expected each to be member of the ASFV Committee and River Rock
Advisors LLC (collectively, the “Participants”). As of the date
hereof, Mr. Jorgl is the record and beneficial owner of 1,000
shares of common stock, par value $0.001 per share, of AIM (the
“common stock”). As of the date hereof, no other Participant is the
record or beneficial owner of any shares of common stock.
CONTACT:Stephen Freyman and Thomas Ball Alliance
Advisors973-873-7700
AIM ImmunoTech (AMEX:AIM)
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