SevenSaoi Capital Delivers Letter to the Board of PDL BioPharma
Expresses Serious Concerns Regarding PDL's Misguided Acquisition Strategy, Which Has Destroyed Shareholder Value
Believes the PDL Board Must Pursue Alternative Capital Allocation Strategies, Including A Significant Share Repurchase
PR Newswire
CHICAGO, Sept. 20, 2018
CHICAGO, Sept. 20, 2018 /PRNewswire/ -- SevenSaoi Capital, LLC (together with its affiliates, "SevenSaoi," pronounced "7C"), a long-only public equity investment firm and significant shareholder in PDL BioPharma, Inc. PDLI ("PDL" or the "Company") with 2,590,198 shares of common stock, announced today that it has delivered a letter to the Board of Directors of PDL. The letter, which can be accessed below, addresses SevenSaoi's serious concerns with the Company's failed acquisition strategy and calls upon the Board to authorize a large share repurchase for the benefit of all shareholders:
PDF: https://mma.prnewswire.com/media/746872/SevenSaoi_Public_Letter_to_PDL_Board.pdf
About SevenSaoi
SevenSaoi Capital, LLC is a Chicago-based, long-only investment firm focused on making private equity-style, fundamentally-driven, long-term oriented investments in publicly-traded small cap companies, primarily in the healthcare, technology, media, and telecommunications industries. This strategy builds on its principals' successful 20+ year track record of private and public equity investment experience in these sectors. SevenSaoi invests in deeply undervalued companies and constructively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.
Media and Investor Contact
SevenSaoi Capital, LLC
Ben Webster
(773) 904-9789
ben@sevensaoi.com
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SOURCE SevenSaoi Capital
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