OCALA, Fla.--(BUSINESS WIRE)--Nov 27, 2024-- AIM ImmunoTech Inc. (NYSE American: AIM) (“AIM” or the “Company”) today issued the following statement refuting the false and misleading claims recently made by a group of activist investors (collectively, the “Activist Group”) relating to their multi-year attempt to take over AIM’s Board of Directors (the “Board”) at the upcoming 2024 Annual Meeting of Stockholders (the “Annual Meeting”), presently scheduled for December 17, 2024. Since 2016, the Board and management team have worked to overcome multiple obstacles, refocus the Company’s clinical development programs to high-value indications, improve its financial condition and lay the foundation for long-term shareholder value creation. To be clear, the Board and management are unhappy with the Company’s stock price performance – but they are doing everything possible to continue the significant momentum with Ampligen – which is ultimately what will create long-term value for all shareholders. Unfortunately, the Activist Group has accused AIM of lying about its historical share price. by claiming in its proxy statement: The truth is that AIM’s stock has never traded anywhere near such a price: Consider the following instances where its members have been found by the Delaware Court of Chancery (the “Court”) to have lied to or misled shareholders: Furthermore, the Court confirmed “ ” 10 by pursuing litigation against AIM. The Delaware Court of Chancery agreed with the Board in both 2022 and 2023. Following the Activist Group’s appeal, the Supreme Court of Delaware upheld the Court’s decision in favor of AIM earlier this year – . : AIM encourages shareholders to vote “ ” ALL four of the Board’s incumbent candidates – , , and – in connection with the Annual Meeting, on the universal proxy card. For more information on how to vote, visit: . *** AIM ImmunoTech Inc. is an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders and viral diseases, including COVID-19. The Company’s lead product is a first-in-class investigational drug called Ampligen ® (rintatolimod), a dsRNA and highly selective TLR3 agonist immuno-modulator with broad spectrum activity in clinical trials for globally important cancers, viral diseases and disorders of the immune system. For more information, please visit and connect with the Company on , , and . This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “continue,” “believe,” “potential,” “upcoming” and other variations thereon and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. Many of these forward-looking statements involve a number of risks and uncertainties. Data, pre-clinical success and clinical success seen to date does not guarantee that Ampligen will be approved as a treatment or therapy for any diseases or conditions. The Company urges investors to consider specifically the various risk factors identified in its most recent Annual Report on Form 10-K, and any risk factors or cautionary statements included in any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, filed with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Among other things, for those statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the PSLRA. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. The Company, its directors and executive officers, Peter W. Rodino, III and Robert Dickey, IV, are deemed to be “participants” (as defined in Section 14(a) of the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from the Company’s stockholders in connection with the Annual Meeting. The Company filed its definitive proxy statement (the “Definitive Proxy Statement”) and a universal proxy card with the SEC on November 4, 2024 in connection with such solicitation of proxies from the Company’s stockholders. The Definitive Proxy Statement contains information regarding the identity of the participants, and their direct and indirect interests, by security holdings or otherwise, in the Company’s securities and can be found in the section titled “Principal Stockholders” of the Definitive Proxy Statement and available . Information regarding subsequent changes to their holdings of the Company’s securities can be found in the SEC filings on Forms 3, 4, and 5, which are available on the Company’s website available or through the SEC’s website at . Stockholders will be able to obtain the Definitive Proxy Statement, any amendments or supplements thereto and other documents filed by the Company with the SEC at no charge at the SEC’s website at . Copies will also be available at no charge at the Company’s website at . ______________________________ 1 The Activist Group’s . 2 the March 2016 , filed with the SEC on March 16, 2016 (emphasis added). 3 ; the . 4 (emphasis added). 5 December 28, 2023, Opinion of the Delaware Court of Chancery: (emphasis added). 6 (emphasis added). 7 (emphasis added). 8 (emphasis added). 9 , 2022 WL 16543834, at *32 (Del. Ch. Oct. 28, 2022). (emphasis added). 10 December 28, 2023, Opinion of the Delaware Court of Chancery: (emphasis added). 11 July 29, 2024, Order on Motion for Reargument of the Delaware Supreme Court. View source version on : CONTACT: Investor Contact: JTC Team, LLC Jenene Thomas 908-824-0775 Media Contact: Longacre Square Partners Joe Germani / Miller Winston KEYWORD: FLORIDA DELAWARE UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: BIOTECHNOLOGY INFECTIOUS DISEASES HEALTH PHARMACEUTICAL ONCOLOGY SOURCE: AIM ImmunoTech Inc. Copyright Business Wire 2024. PUB: 11/27/2024 03:30 PM/DISC: 11/27/2024 03:29 PMNone
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