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NorthStrive Fund II LP Calls on enVVeno Medical to Halt Clinical Spending Plans and Call Special Shareholder Meeting to Vote on Strategic Alternatives
NEWPORT BEACH, Calif., March 03, 2026 (GLOBE NEWSWIRE) -- NorthStrive Fund II LP (“NorthStrive Fund II”), a subsidiary of NorthStrive Companies Inc., headquartered in Newport Beach, California, and beneficial owner of approximately 5.05% of the outstanding common stock of enVVeno Medical Corporation (“enVVeno” or the “Company”), today issued the following open letter to the Company’s Board of Directors (the “Board”) and fellow shareholders: Following NorthStrive Fund II’s Schedule 13D filing on
About this update from Envveno Medical Corporation
[{"type":"text","content":"NEWPORT BEACH, Calif., March 03, 2026 (GLOBE NEWSWIRE) -- NorthStrive Fund II LP (“NorthStrive Fund II”), a subsidiary of NorthStrive Companies Inc., headquartered in Newport Beach, California, and beneficial owner of approximately 5.05% of the outstanding common stock of enVVeno Medical Corporation (“enVVeno” or the “Company”), today issued the following open letter to the Company’s Board of Directors (the “Board”) and fellow shareholders:","length":444,"tagName":"p"},{"type":"text","content":"Following NorthStrive Fund II’s Schedule 13D filing on February 20, 2026 outlining specific strategic recommendations, NorthStrive Fund II held a call with the Company’s Chief Executive Officer. EnVVeno’s Chief Executive Officer indicated he was speaking on behalf of the Board and that the Board does not intend to pursue the recommendations presented.","length":353,"tagName":"p"},{"type":"text","content":"NorthStrive Fund II respectfully disagrees.","length":43,"tagName":"p"},{"type":"text","content":"NorthStrive Fund II has prepared a detailed financial model evaluating the Company’s current standalone plan against two clear strategic alternatives:","length":150,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"An orderly liquidation and return of capital; or","length":48,"tagName":"p"}]},{"val":[{"type":"text","content":"Seek an accretive merger or reverse-merger.","length":43,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":91,"olType":false},{"type":"text","content":"This financial model has been delivered to the Board and is publicly available at www.returnsmattermost.com so that all investors may independently assess the economic implications of each path.","length":194,"tagName":"p"},{"type":"text","content":"NorthStrive Fund II is formally requesting that the Board call a Special Meeting of Shareholders to allow shareholders to vote on the Company’s strategic direction.","length":164,"tagName":"p"},{"type":"text","content":"The full text of the letter follows:","length":36,"tagName":"p"},{"type":"text","content":"Letter to the Board of Directors and Shareholders of enVVeno Medical Corporation","length":80,"tagName":"p"},{"type":"text","content":"enVVeno Medical Corporation70 DopplerIrvine, CA 92618","length":55,"tagName":"p"},{"type":"text","content":"March 3, 2026","length":13,"tagName":"p"},{"...