Business
DOMA Perpetual Sends Letter Calling for the Board of Directors of Pacira BioSciences, Inc. to Immediately Explore a Sale of the Business
DOMA Perpetual Capital Management LLC, a significant stockholder of Pacira BioSciences, Inc. (NASDAQ: PCRX) ("Pacira"), today sent a letter to the Board of Directors of Pacira (the "Board") urging the Board to hire bankers and conduct a full sale process of the company.
About this update from Pacira Biosciences, Inc.
[{"type":"image","alt":"(PRNewsfoto/DOMA Perpetual)","displaySize":"","headline":null,"caption":"(PRNewsfoto/DOMA Perpetual)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":160,"url":"https://media.zenfs.com/en/prnewswire.com/a090dc9698fdef9b8264bc35a1cc2072"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/hSve.ZecFRJkJBAx3._6rQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI4MjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/a090dc9698fdef9b8264bc35a1cc2072","width":400,"height":160}},"href":"https://mma.prnewswire.com/media/2468496/DOMA_PERPETUAL___Logo.html","hrefExternal":true,"rel":"nofollow","lazy":false},{"type":"text","content":"DOMA Controls 6.8% of Pacira Common Stock","length":41,"tagName":"p","attribs":{}},{"type":"text","content":"MIAMI, Nov. 10, 2025 /PRNewswire/ -- DOMA Perpetual Capital Management LLC, a significant stockholder of Pacira BioSciences, Inc. (NASDAQ: PCRX) ("Pacira"), today sent a letter to the Board of Directors of Pacira (the "Board") urging the Board to hire bankers and conduct a full sale process of the company.","length":332,"tagName":"p"},{"type":"text","content":"The letter can be downloaded here.","length":34,"tagName":"p"},{"type":"text","content":"The full text of the letter follows:","length":36,"tagName":"p"},{"type":"text","content":"November 10th, 2025","length":19,"tagName":"p"},{"type":"text","content":"To the Board of Directors of Pacira:","length":36,"tagName":"p"},{"type":"text","content":"As you are aware, DOMA Perpetual has amended the 13D, stating our position regarding Pacira. Our ownership stake is now 6.8%.i We have also updated our intentions regarding our ownership. We continue to evaluate the possibility of substantially increasing our position in the future. Due to what we believe is management's unrelenting underperformance, out-of-control spending, and lack of prudent financial control, we now believe Pacira's Board should immediately hire bankers and conduct a formal sale process for the business.","length":543,"tagName":"p"},{"type":"text","content":"We find Pacira's continued lack of shareholder return unacceptable.ii The Board has allowed management to spend many millions of dollars in what we consider to be an ill-advised and wasteful manner, given Pacira's financial performance.iii Further, we believe it...