MDXG - MiMedx is 'grossly undervalued' says Prescience Point; withdraws board nominees

Activist shareholder Prescience Point Capital Management has announced the withdrawal of its slate of nominees to the board of MiMedx (MDXG) ahead of the company’s annual meeting of shareholders scheduled on May 27, 2021.Prescience Point notes that it is unnecessary to take steps to reconstitute the board after its activism and research efforts have led to among other things ‘significant enhancements in corporate governance,’ at MiMedx.Highlighting its more than two years of ownership of over 8M of company shares, the firm noted it ‘continues to believe that MiMedx shares are grossly undervalued and that the Company has an extremely bright future.’“Thanks to our efforts, we believe that MiMedx is a much more investable and shareholder-friendly company today,” commented Eiad Asbahi, founder/ managing partner of Prescience Point. “We believe ending our campaign now is in the best interests of all shareholders,” Asbahi added.In January, Prescience Point revealed an ~8% stake in MiMedx

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MiMedx is ‘grossly undervalued’ says Prescience Point; withdraws board nominees