SESN - Sesen Bio board reiterates desire to merge with Carisma Therapeutics

• Amid opposition from some shareholders, the board of directors of Sesen Bio ( NASDAQ: SESN ) has reiterated support for its planned merger with Carisma Therapeutics saying it is the best move for shareholders.
• The company said that after a comprehensive review of strategic alternatives, the board unanimously agreed the pending merger with Carisma was the most value maximizing option.
• Bradley L. Radoff and Michael Torok, along with their affiliates, who own approximately 8.4% of Sesen Bio ( SESN ), argue that the company would be "far better off" if the merger was terminated .
• Sesen Bio ( SESN ), in a news release, said the Radoff/Torok plan "hinges on an unfeasible distribution scenario with inaccurate assumptions that would leave considerable stockholder value on the table."

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