Applied Genetic Technologies Corporation Urges Shareholders to Tender Their Shares by November 28, 2022
14 Noviembre 2022 - 3:01PM
Applied Genetic Technologies Corporation (Nasdaq: AGTC), President
and Chief Executive Officer, Sue Washer, sent the following letter
to stockholders:
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.
We urge you to tender your shares in the offer.In
order to tender, please contact your bank or broker, or
follow the instructions that you previously received by
mail or email from your bank or broker. You should act
prior to the deadline specified by your bank or
broker but, in any case, before the tender offer expires on
November 28, 2022, at 5:00 p.m. Eastern Time.Your
bank or broker will not tender your AGTC shares
unless you instruct them to do
so. |
AGTC’s Board of Directors has
unanimously approved the transaction and recommends that
stockholders accept the offer and tender their shares in the
offer. AGTC’s Board of Directors believes the transaction
represents an attractive offer that is in the best interests of
AGTC’s stockholders.
Should the majority of outstanding AGTC
shares not be tendered, AGTC’s Board of Directors believes that
AGTC will have no alternative but to pursue bankruptcy with no
certainty of value for stockholders. It
is therefore important that you tender your shares in the
offer.
If you have any questions about the offer, please contact your
bank or brokerage firm. You may also contact Georgeson LLC,
the Information Agent for the offer, at (800) 279-6913.
_________________________________________Sue
Washer, President and Chief Executive OfficerApplied Genetic
Technologies CorporationNovember 14, 2022
About AGTC
AGTC is a clinical-stage biotechnology company
developing genetic therapies for people with rare and debilitating
ophthalmic, otologic and central nervous system (CNS) diseases.
AGTC is designing and constructing critical gene therapy elements
and bringing them together to develop customized therapies with the
potential to address unmet patient needs. AGTC’s most advanced
clinical programs in XLRP and ACHM CNGB3 leverage its technology
platform to potentially improve vision for patients with inherited
retinal diseases. Its preclinical programs build on AGTC’s AAV
manufacturing technology and scientific expertise. AGTC is
advancing multiple pipeline candidates to address substantial unmet
clinical needs in optogenetics, otology and CNS disorders, and has
entered into strategic collaborations with companies including
Bionic Sight, Inc., an innovator in the emerging field of
optogenetics and retinal coding, and Otonomy, Inc., a
biopharmaceutical company dedicated to the development of
innovative therapeutics for neurotology.
Additional Information and Where to Find
It
A tender offer statement on Schedule TO,
including an offer to purchase, a letter of transmittal and related
documents, have been filed with the SEC by subsidiaries of Syncona
Limited, and a Solicitation / Recommendation Statement on Schedule
14D-9 has been filed with the SEC by the Company. The offer to
purchase shares of Company common stock is being made pursuant to
the offer to purchase, the letter of transmittal and related
documents filed as a part of the Schedule TO. INVESTORS AND
SECURITY HOLDERS ARE URGED TO READ BOTH THE TENDER OFFER STATEMENT
AND THE SOLICITATION / RECOMMENDATION STATEMENT REGARDING THE
OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME,
BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT INVESTORS AND
SECURITY HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION
REGARDING TENDERING THEIR COMMON STOCK, INCLUDING THE TERMS AND
CONDITIONS OF THE TENDER OFFER. Investors and security holders may
obtain a free copy of these statements and other documents filed
with the SEC at the website maintained by the SEC at www.sec.gov or
by directing such requests to Georgeson LLC, Information Agent for
the Offer, toll-free at (800) 279-6913. Investors may also obtain,
at no charge, the documents filed or furnished to the SEC by the
Company under the “Investors” section of the Company’s website at
www.AGTC.com.
Forward-looking Statements
This communication contains forward-looking
statements. Forward-looking statements are generally identified by
the words “expects”, “anticipates”, “believes”, “intends”,
“estimates”, “plans”, “will be” and similar expressions. These
forward-looking statements include, without limitation, statements
related to the anticipated consummation of the acquisition of the
Company and the timing and benefits thereof, the anticipated
contingent value right payments, and other statements that are not
historical facts. These forward-looking statements are based on the
Company’s current expectations and inherently involve significant
risks and uncertainties. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of these risks and
uncertainties, which include, without limitation, risks related to
the parties’ ability to complete the transaction on the proposed
terms and schedule; whether the tender offer conditions will be
satisfied; whether sufficient stockholders of the Company tender
their shares in the transaction; the outcome of legal proceedings
that may be instituted against the Company and/or others relating
to the transaction; the failure (or delay) to receive the required
regulatory approvals relating to the transaction; the possibility
that competing offers will be made; risks relating to product
development and commercialization and demand for AGTC’s products
(and, as such, uncertainty that the milestones for the contingent
value right payments may not be achieved); and other risks related
to the Company’s business detailed from time-to-time under the
caption “Risk Factors” and elsewhere in the Company’s SEC filings
and reports, including its Annual Report on Form 10-K for the year
ended June 30, 2022 and subsequent quarterly and current reports
filed with the SEC. The Company undertakes no duty or obligation to
update any forward-looking statements contained in this
communication as a result of new information, future events or
changes in its expectations, except as required by law.
Applied Genetic Technologies Corporation
Contacts:
IR Contact: David
CareyLazar FINN PartnersT: (212)
867-1768david.carey@finnpartners.com
Corporate Contact:Jonathan LieberChief
Financial OfficerApplied Genetic Technologies CorporationT: (617)
843-5778jlieber@agtc.com
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