The Sonic Fund II, L.P. Issues Presentation Correcting Adverum’s Misstatements

Rhea-AI Summary

The Sonic Fund II, L.P. currently holds approximately 6.8% of Adverum Biotechnologies' outstanding common stock (NASDAQ: ADVM). Sonic has issued a supplemental presentation correcting recent misstatements by Adverum and has nominated three independent candidates—Jean Bennett, Jodi Cook, and Herbert Hughes—for election to the Board of Directors at the 2021 Annual Meeting. The presentation is titled “Adverum’s Myths: Correcting the Record” and is available for review online.

Positive

• Sonic Fund II holds 6.8% of Adverum, indicating significant investment interest.
• Nomination of independent directors could enhance governance and strategic direction.

Negative

• Recent misstatements by Adverum may undermine investor confidence and credibility.

The Sonic Fund II, L.P. (“Sonic”), which beneficially owns approximately 6.8% of the outstanding common stock of Adverum Biotechnologies, Inc. (NASDAQ: ADVM) (the “Company” or “Adverum”), today issued a supplemental presentation detailing – and correcting – a number of the Company’s recent misstatements. Sonic has nominated three independent, highly qualified director candidates – Jean Bennett, Jodi Cook and Herbert Hughes (the “Nominees”) – for election to the Adverum Board of Directors (the “Board”) at the 2021 Annual Meeting of Stockholders (the “2021 Annual Meeting”).

The presentation, entitled “Adverum’s Myths: Correcting the Record,” is available at: https://www.saveadverum.com/investor-materials.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210426005486/en/

FAQ

What is the current ownership stake of Sonic Fund II in Adverum Biotechnologies (ADVM)?

Sonic Fund II beneficially owns approximately 6.8% of the outstanding common stock of Adverum Biotechnologies.

What are the names of the director candidates nominated by Sonic Fund II for Adverum's board?

The nominated candidates are Jean Bennett, Jodi Cook, and Herbert Hughes.

Where can I find the supplemental presentation related to Adverum Biotechnologies?

The presentation titled 'Adverum’s Myths: Correcting the Record' is available at www.saveadverum.com/investor-materials.

When is the 2021 Annual Meeting of Stockholders for Adverum Biotechnologies?

The 2021 Annual Meeting of Stockholders for Adverum Biotechnologies is scheduled for this year.