Ted D. Kellner, Todd Deutsch, Robert L. Chioini and Paul W. Sweeney (the “Kellner Group”) have
filed a definitive proxy statement (the “Proxy Statement”) and accompanying GOLD proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes for their election to the Board of Directors of
AIM Immunotech Inc., a Delaware corporation (the “Company” or “AIM”), at the 2024 Annual Meeting of Stockholders scheduled to be held on December 17, 2024 (the “Annual Meeting”).
The Kellner Group intends to send email correspondence in substantially the form set forth below as
a follow-up to certain stockholders commencing on December 12, 2024:
[Form of Follow-Up E-Mail to Certain Stockholders]
We appreciate your time and
thoughtful discussion last week.
We wanted to make sure you saw our press releases this week. We announced the support of the co-founder of Ampligen and former CEO of AIM, Dr. Carter, and another former AIM executive, Mr. Springate. Both of these individuals initiated contact with us because they have deep experience with AIM and
Ampligen and want to help us deliver the significant change that is needed. We believe this reinforces that our group can attract the right people to constructively work toward turning AIM around and generate value for stockholders.
In the release this morning, aided by the valuable insights we have already gained from Dr. Carter and Mr. Springate, we elaborated more on our plan
for improving AIM’s financial position and revitalizing its clinical program. As we gather additional data and insights, we will continue to be transparent on specific next steps. The unfortunate reality of the situation is that due to the lack
of transparency from the incumbent Board, we need to dig into the data and do the hard work of figuring out the exact right approach. We went into detail about the status of AIM’s clinical program in yesterday’s press release, and the
bottom line is that we just can’t trust the information the incumbent Board is putting out.
Our press releases can be found here –
https://www.okapivote.com/AIM/.
The case for significant change at AIM is not in dispute. As ISS said – “There is no question that for
shareholders to have any hope of not losing 100 percent of their investment, significant change is needed.”1
But incremental change would be wholly inadequate in this situation. This is not a case of competing visions for the future of AIM or different opinions about
the strategic direction of the company. The incumbent Board has no vision for the future of AIM or strategy. We truly believe that the degree of value destruction under the incumbent Board, combined with their breach of fiduciary duty and other
improper actions and brazen disregard of stockholders and corporate governance norms, is without precedent and warrants drastic, immediate change. The incumbent Board knows this, so they are resorting to attacking us with misleading narratives to
divert attention.
Each of my nominees brings valuable skills and experience and I believe collectively we can bring about the much needed change. I ask
you to please consider that:
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Todd and I are two of the biggest AIM stockholders and have held our shares for years. We are only interested in
improving AIM’s performance and are aligned with all stockholders. |
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The idea that I am motivated to seek reimbursement and will exploit company resources could not be further from
the truth. I built my business reputation by acting as a trusted investment fiduciary over the course of decades. I am committed to AIM and using my resources and network to create value if we are elected. |
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AIM has questioned my connections with Paul. We have been transparent about our business relationship, in the
proxy statement and in the notice to AIM. Each of us has a track record of successful investing and running businesses and we have earned the trust of our respective investors through our performance and our stewardship over many years. This is a
strength of our slate and exactly what AIM needs to shore up its desperate financial situation. |
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Permission to use quotations from ISS was neither sought nor obtained. |