November 15, 2022 12:02pm
The stock is trading at $0.39.09 (+0.72% or +$0.0028) as compared to tender offer of $0.34
A Syncona Limited portfolio company has commenced a tender offer to purchase all outstanding shares of AGTC common stock at a price per share of $0.34 in cash plus the right for AGTC stockholders to receive additional aggregate payments of up to $0.73 per share upon the achievement of specified milestones.
Investors NEED to tender; a NON vote will render the company bankrupt, liquidated and investors will get NOTHING!
The Bottom Line: Regardless of what investors think and feel that shareholders got ROBBED by CEO Susan Washer who also gets a $1.5 million dollar “walk-away” and pay-out after a 2022 comp package of $1.5 million.
Negating, Sue Washer’s $1.5 million payout should be a condition that the tender offer be completed.
- She soldout investors by her incompetence with a massive employment contract gain !!
Additional thoughts … Georgeson LLC, the Information Agent has done a worse than terrible job in “marshalling” the tender contacting brokers not INVESTORS who ROUTINELY received corporate information – directly in the past – a “rope-a-dope”?
There are also multiple lawsuits that have been filed against the company for NOT supplying the full information regarding AGTC’s financial condition.
For the record, I am also an investor who was on the loosing end (and it wasn’t cheap); RegMed Investors (RMi) has been CEO Sue Washers biggest detractor and as many of us NOW feel – we should have dumped years ago when Biogen (BIIB) "walked".