Business
Pasithea Therapeutics Urges Stockholders to Reject Activist Camac Group’s Unjustified Campaign
Stockholders Should Protect Upside in Potential Groundbreaking Therapies for MS, ALS and Other Large Unmet Medical Conditions from Activist’s Apparent Cash
About this update from Pasithea Therapeutics Corp.
[{"type":"text","content":"Stockholders Should Protect Upside in Potential Groundbreaking Therapies for MS, ALS and Other Large Unmet Medical Conditions from Activist’s Apparent Cash Grab Board Unanimously Recommends Stockholders to Sign, Date and Return GOLD Consent Revocation Card MIAMI BEACH, Fla., Aug. 02, 2022 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), a biotechnology company focused on the discovery, research and development of new and effective treatments for psychiatric and neurological disorders, today announced that it has filed its definitive consent revocation statement with the U.S. Securities and Exchange Commission (“SEC”) and sent a letter to Pasithea stockholders. The letter outlines Pasithea’s response to the consent solicitation to call a Special Meeting of Stockholders (“Special Meeting”) by Camac Partners, LLC, Camac Capital, LLC, Concord IP2 Ltd., Elderhill Corporation, Leonite Capital LLC, Eric Shahinian, David Delaney, and Avi Geller (collectively, the “Camac Group”). The Board of Directors of Pasithea unanimously urges stockholders to reject what it believes is the Camac Group’s misguided and self-serving attempt to undermine the Company’s progress and destroy its meaningful upside potential. Pasithea urges its stockholders to sign, date, and return Pasithea’s GOLD consent revocation card and discard any white consent solicitation card received from the Camac Group. The letter to stockholders outlines the Company’s commitment to advancing its potentially groundbreaking therapies to grow stockholder value and underscores how Pasithea believes the Camac Group’s self-serving and short-sighted campaign is an attempt to co-opt the Company’s cash and eliminate significant potential future value from stockholders. The full text of the letter is as follows: August 2, 2022 Dear Pasithea Stockholders, Pasithea Therapeutics is writing to you in connection with the Camac Group’s self-serving campaign to replace the Board of Directors who were just overwhelmingly re-elected in late June 2022 by the Company’s stockholders by calling for a Special Meeting. Your Board believes the Camac Group appears to be attempting to co-opt the Company’s cash and eliminate significant upside potential as we continue our activities to develop potentially groundbreaking therapies for psychiatric and neurological...