PRTK - NexPoint sends demand letter to Paratek Pharma for books & records on proposed takeover

2023-07-11 18:25:24 ET

• Paratek Pharmaceuticals' ( NASDAQ: PRTK ) investor NexPoint Asset Management has sent a demand letter to the clinical-stage biotech to make available its books and records related to its proposed takeover by Gurnet Point Capital.
• The letter was issued by NexPoint Event Driven Fund on Tuesday.
• According to NexPoint Asset Management, it holds an approximately 11.7% stake in PRTK.
• NexPoint had earlier in late June said it may vote against the planned acquisition of PRTK by Gurnet Point Capital, under which the biotech would go private.
• NexPoint has sent the demand letter to make available the books and records "in order to investigate whether any board members breached their fiduciary duties in connection with the proposed acquisition," the PRTK investor said in a statement .
• Click here for the full text of the demand letter.
• Paratek Pharmaceuticals ( PRTK ) stock earlier closed +0.5% at $2.19.

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