Calls on shareholders to vote ahead of Annual
Meeting – Vote by 11:59 PM on
December 11
Says Carver's best days are ahead if
shareholders vote for change
Urges all shareholders to vote for change:
Vote FOR Mr. Jeffrey "Jeff" Anderson and Mr. Jeffrey Bailey
for the Board of Directors using the BLUE proxy card and
vote WITHHOLD on Carver's under-
performing Directors
NEW
YORK, Dec. 9, 2024 /PRNewswire/ -- Dream Chasers
Capital Group LLC ("Dream Chasers") today urged shareholders of
Carver Bancorp, Inc. ("Carver," or the "Company") (NASDAQ: CARV) to
vote for change ahead of this week's Annual Meeting of
Shareholders. The deadline to vote electronically is 11:59 PM
on Wednesday, December 11, 2024,
ahead of the Annual Meeting the following day.
In an open letter, Dream Chasers encouraged all shareholders to
vote FOR Mr. Jeffrey "Jeff" Anderson and Mr. Jeffrey Bailey for election to the Board of
Directors (the "Board") and to vote WITHHOLD on the two
Directors that are up for re-election.
"The final countdown for Carver's future is now," said
Greg Lewis, Chief Executive Officer
of Dream Chasers. "Either we are going to double down on the
status quo of not delivering for the community or shareholders at
Carver, or we will turn the page with two successful, qualified and
focused directors to drive change. Whether you're an
institutional or retail shareholder, we can all agree that new
ideas and energy are necessary."
Lewis continued, "We have heard from a large number of
shareholders who are excited about the possibility of change at
Carver because they believe in the Company and want it to serve the
community as well as possible. To me, the biggest tragedy is that
successive Carver Boards have had the opportunity to transform the
bank into a national champion providing business loans, mortgages,
and stock market investments to African Americans to build wealth
and have squandered that chance. All this Board has to show
after ten years at the helm is a once promising 75-year-old bank
with $9.4 million in market
capitalization and a $1.831 stock price. But I don't think
it is ever too late. Mr. Anderson and Mr. Bailey will bring new
voices, energy and experience to the Board, and will help get
Carver back on track for growth and profitability. With your
support, Carver's best days are ahead."
The full text of the letter to shareholders is below:
Dear Fellow Carver Shareholders:
The deadline to vote for candidates to join the Board of
Directors (the "Board") of Carver Bancorp, Inc. ("Carver" or the
"Company") is coming up. You must vote by 11:59 PM on December
11, 2024.
Time is of the essence, and we urge you to vote for change
TODAY, using the BLUE proxy card to vote YES for Jeffrey "Jeff"
Anderson and Jeffrey Bailey, and
vote WITHHOLD on Carver's under-performing
Directors.
Shareholders should vote for our nominees to protect the value
of their investment. As we have said previously, the facts
are simple:
- Carver's Board has presided over significant losses and
shareholder value destruction for too long. The Board continues
to pay itself and management handsomely while we, the shareholders,
suffer.
- Shareholders need a Board focused on restoring the value of
their investments and driving growth and profitability to
maintain Carver's important community role.
- Our nominees are extremely capable and aligned with
shareholder interests: Mr. Anderson is an accomplished banking
and financial services executive, and Mr. Bailey is a successful
businessman and Carver's largest individual shareholder. They will
bring deep experience and the voice of the shareholder to the
Board.
- We love and care about Carver and its community: Mr.
Anderson grew up in Harlem and serves on three Boards of Directors
of nonprofit organizations there. Mr. Bailey invested in Carver
because of its opportunity to do good business by serving its
community. Dream Chasers Capital Group LLC ("Dream Chasers") is a
minority-owned investment firm with roots in the communities that
Carver serves.
- We want to see Carver do well, so that it can build on
its historic role serving customers, businesses and institutions in
New York that have been left
behind. The fundamental truth is that a bank that loses money year
after year will be unable to serve customers and its
community.
Please VOTE TODAY for Mr. Anderson and Mr. Bailey, using
the BLUE proxy card. If you cannot locate a Blue card,
you can vote on the White card for Mr. Anderson and Mr.
Bailey. It is time to put Carver on a path to
profitability and growth, and to drive shareholder
value. If you have already voted for Mr. Anderson and
Mr. Bailey, thank you for your vote. With your support,
Carver's best days are ahead.
Sincerely,
Greg Lewis
Dream Chasers Capital Group LLC
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
The information herein contains "forward-looking statements."
Specific forward-looking statements can be identified by the fact
that they do not relate strictly to historical or current facts and
include, without limitation, words such as "may," "will,"
"expects," "believes," "anticipates," "plans," "estimates,"
"projects," "potential," "targets," "forecasts," "seeks," "could,"
"should" or the negative of such terms or other variations on such
terms or comparable terminology. Similarly, statements that
describe our objectives, plans or goals are forward-looking.
Forward-looking statements are subject to various risks and
uncertainties and assumptions. There can be no assurance that any
idea or assumption herein is, or will be proven, correct. If one or
more of the risks or uncertainties materialize, or if any of the
underlying assumptions of Dream Chasers Capital Group LLC ("Dream
Chasers") or any of the other participants in the proxy
solicitation prove to be incorrect, the actual results may vary
materially from outcomes indicated by these statements.
Accordingly, forward-looking statements should not be regarded as a
representation by Dream Chasers that the future plans, estimates or
expectations contemplated will ever be achieved.
Certain statements and information included herein may have been
sourced from third parties. Dream Chasers does not make any
representations regarding the accuracy, completeness or timeliness
of such third party statements or information. Except as may be
expressly set forth herein, permission to cite such statements or
information has neither been sought nor obtained from such third
parties. Any such statements or information should not be viewed as
an indication of support from such third parties for the views
expressed herein.
Dream Chasers disclaims any obligation to update the information
herein or to disclose the results of any revisions that may be made
to any projected results or forward-looking statements herein to
reflect events or circumstances after the date of such information,
projected results or statements or to reflect the occurrence of
anticipated or unanticipated events.
IMPORTANT INFORMATION AND WHERE TO FIND
IT
DREAM CHASERS STRONGLY ADVISES ALL
STOCKHOLDERS OF THE COMPANY TO READ ITS DEFINITIVE PROXY STATEMENT,
ANY AMENDMENTS OR SUPPLEMENTS TO SUCH PROXY STATEMENT AND OTHER
PROXY MATERIALS FILED BY DREAM CHASERS WITH THE SEC AS THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH
PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEBSITE
AT WWW.SEC.GOV. THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT
DOCUMENTS ARE ALSO AVAILABLE ON THE SEC WEBSITE, FREE OF CHARGE, OR
BY DIRECTING A REQUEST TO THE PARTICIPANTS' PROXY SOLICITOR, OKAPI
PARTNERS LLC, 1212 AVENUE OF THE AMERICAS, 17TH FLOOR,
NEW YORK, NEW YORK 10036-1600.
STOCKHOLDERS CAN CALL TOLL-FREE:
(877) 629-6356.
Contacts
For Media:
Breitenbush Partners
Andrew Wilson, (773) 425-4991
awilson@breitenbushpartners.com
For Investors:
Okapi Partners
Bruce Goldfarb/Tony Vecchio
(877) 629-6356
(212) 297-0720
info@okapipartners.com
About Dream Chasers Capital Group
Dream Chasers Capital Group LLC is a New York City based minority owned investment
firm. More information can be found at
www.dreamchaserscapitalgroup.com.
1 Market capitalization and stock price based on CARV
share price as of market close on December
8, 2024. Source: Yahoo! Finance.
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SOURCE Dream Chasers Capital Group