On September 28, 2022, the AIM Stockholder Full Value Committee filed its Definitive Proxy
Statement and is mailing the following letter to stockholders in connection with AIM ImmunoTech Inc.s 2022 Annual Meeting of Stockholders to be held on November 3, 2022.
YOUR VOTE IS IMPORTANT! VOTE ON THE GOLD PROXY CARD OR VOTING FORM TO ELECT ROBERT L. CHIOINI AND MICHAEL RICE, THE TWO
HIGHLY-QUALIFIED NOMINEES OF THE ASFV COMMITTEE, TO THE BOARD OF AIM IMMUNOTECH INC.
September 28, 2022
Dear AIM Stockholders:
We,
Jonathan Thomas Jorgl, the nominating stockholder, together with Robert L. Chioini and Michael Rice, each a nominee for director (collectively, the AIM Stockholder Full Value Committee, the ASFV Committee, we or
us), are writing you today regarding the 2022 Annual Meeting of Stockholders of AIM ImmunoTech Inc., a Delaware corporation (AIM or the Company), which will be held at 11:00 a.m., Eastern Daylight Time, at 2117 SW
Highway 484, Ocala, Florida 34473 on November 3, 2022 (the Annual Meeting). Enclosed with this letter are the proxy materials of the ASFV Committee, pursuant to which we are soliciting your vote for the election of Mr. Chioini
and Mr. Rice at the Annual Meeting. Please read the proxy materials because they contain important additional information about the ASFV Committees proxy solicitation and the qualifications and experience of
Mr. Chioini and Mr. Rice.
By now you may have received a letter and proxy materials from the
Companys incumbent Board of Directors (the Board) attacking our proxy campaign. The incumbent Board has attacked both our proxy campaign through expensive, wasteful litigation and our character and integrity in their continuing
efforts to discredit us and attempt to prevent a fair stockholder vote and further entrench themselves. We believe this is an effort to divert your attention from the key issues confronting the Board and harming stockholders, including a massive
decline of the AIM share price, excessive executive compensation, and a self-serving governance structure with no accountability to stockholders. The Board has continually demonstrated its unwillingness to address the issues we
have raised and has chosen instead to attack us to prevent you, the stockholder, from your most basic right of voting. As a stockholder, you have the power and right to change the direction of AIM with your vote.
We urge all of the Companys stockholders to vote on the GOLD proxy card to elect our nominees, Mr. Chioini and
Mr. Rice, to initiate a turnaround in the Company that is desperately needed so that it is managed and overseen in a manner consistent with the stockholders best interests. If you have already voted using managements WHITE proxy
card, we urge you to change your vote by voting a later-dated GOLD proxy card which you have every right to do so. Only your latest-dated vote counts so please ensure that our GOLD proxy card is your last-dated vote.
Background
AIM
ImmunoTech Inc. is an immuno-pharma company focusing on the research and development of therapeutics to treat multiple types of cancers, viral diseases, and immune-deficiency disorders. The three current incumbent directors have each been with the
company a very long time, the last 24, 14 and 11 years respectively. With the current incumbent Board in charge, we believe the Company has failed badly, as reflected in the considerable drop in its share price, inadequate clinical development of
its potential cancer therapy, inability to monetize its acquired FDA approved drug, irresponsible financial management of cash, overly excessive executive compensation, lack stockholder communication and transparency, and very poor governance.
AIMs stock price has fallen 99% since the incumbent directors took control 6 years ago!
Under the incumbent boards direction which included multiple reverse splits of the AIM shares (1:12 on August 29, 2016, and
1:44 on June 11, 2019) necessary to avoid delisting AIMs stock price has plummeted