Leading Independent Proxy Advisory Firm ISS Recommends Advaxis Stockholders Vote “FOR” the Merger with Biosight
The ISS recommendation stated, “The board ran what appears to have been a thorough strategic review process, corresponding with over 200 potential counterparties on a broad variety of transaction types, and no competing offers have been publicly disclosed since announcement. The strategic rationale also appears logical, as it will diversify the pipeline of product candidates, and is expected to result in a combined company with a more stable financial position. In light of these factors, support for the proposal is warranted.”
In addition, in recommending stockholders vote “FOR” the reverse stock split proposal, ISS highlighted “the reverse split may enable the company to maintain listing of its common stock on the Nasdaq Capital Market.”
The Special Meeting is scheduled to take place on
To vote, or if you have already voted and would like to change your vote, or if you have any questions or need assistance voting your shares, please call the firm assisting us with the solicitation of proxies:
1-888-518-1560 (toll free)
About Advaxis, Inc.
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Important Information about the Merger and Where to Find It
This press release contains information that relates to a proposed transaction between the Company and
Completion of the proposed transactions is subject to approval by the stockholders of
Participants in the Solicitation
The Company and Biosight and their respective directors and executive officers may be considered participants in the solicitation of proxies with respect to the proposed transaction. Information regarding such directors and executive officers, including a description of their interests, by security holdings or otherwise, in the proposed transaction will be set forth in the definitive proxy statement/prospectus filed with the
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statements that express the current beliefs and expectations of management, including but not limited to statements related to the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the Company’s business and the price of the common stock of the Company; the failure of either party to satisfy any of the conditions to the consummation of the proposed transaction, including the adoption of the Merger Agreement by the Company’s stockholders and the receipt of certain governmental and regulatory approvals; uncertainties as to the timing of the consummation of the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; the effect of the announcement or pendency of the proposed transaction on the Company’s business relationships, operating results and business generally; risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed transaction; risks related to diverting management’s attention from the Company’s ongoing business operations; the outcome of any legal proceedings that may be instituted against the Company related to the Merger Agreement or the proposed transaction; unexpected costs, charges or expenses resulting from the proposed transaction; the Company’s history of net operating losses and uncertainty regarding its ability to achieve profitability; expected clinical development of the Company’s drug product candidates, statements about the Company’s balance sheet position, including the sufficiency of the Company’s cash and cash equivalents to fund its obligations into the future, and statements related to the goals, plans and expectations for the Company’s ongoing clinical studies. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, the definitive proxy statement on Schedule 14A, filed on
Tim McCarthy, LifeSci Advisors, LLC
Source: Advaxis, Inc.