AIM ImmunoTech Reminds Shareholders to Vote “FOR” All Four Incumbent Board Members on the WHITE Universal Proxy Card

Rhea-AI Summary

AIM ImmunoTech (NYSE American: AIM) urges shareholders to vote 'FOR' all four incumbent Board members at the upcoming 2024 Annual Meeting scheduled for December 17, 2024. The company emphasizes that the current Board has the expertise to continue developing Ampligen and create long-term shareholder value. AIM warns against an Activist Group's attempt to gain Board control, which could potentially lead to over $5 million in self-reimbursements and disrupt ongoing clinical development progress. The company highlights its partnerships with major biopharmaceutical companies and research organizations, demonstrating Ampligen's potential. Both major proxy advisory firms, ISS and Glass Lewis, have noted the Activist Group's lack of a clear plan for AIM.

Positive

• Established partnerships with major biopharmaceutical companies
• Ongoing clinical development programs in areas of unmet medical need
• Support from leading proxy advisory firms ISS and Glass Lewis

Negative

• Risk of $5+ million reimbursement to Activist Group if they gain control
• Potential disruption to ongoing clinical development programs
• Corporate governance dispute could impact business operations

Urges Shareholders to Ensure Their Voices Are Heard and to Protect Their Investment by Supporting Current Board

Believes Incumbent Board is Best Positioned to Continue Overseeing the Clinical Development of Ampligen and Deliver Long-Term Value for All Shareholders

Warns Shareholders that the Activist Group’s Self-Interested Agenda Could Put AIM’s Progress at Risk

Highlights the Activist Group’s Lack of a Plan and Persistent Attempts to Mislead Shareholders

OCALA, Fla.--(BUSINESS WIRE)-- AIM ImmunoTech Inc. (NYSE American: AIM) (“AIM” or the “Company”) today issued the following statement in connection with the upcoming 2024 Annual Meeting of Stockholders (the “Annual Meeting”), presently scheduled for December 17, 2024 at 11:00 a.m. ET:

AIM urges shareholders to protect their investment and the Company's future by voting on the WHITE universal proxy card “FOR” all four current members of our Board of Directors (the “Board”).

AIM is confident that its incumbent directors have the right backgrounds and relevant expertise to continue driving forward our strategy to realize long-term value for all shareholders. We have significant momentum in our clinical development programs – especially in areas of critical unmet need – that is laying the groundwork for commercialization opportunities. The partnerships we have forged with large biopharmaceutical companies and world-class research organizations are a testament to the potential of our lead drug candidate, Ampligen.

Allowing the group of activist investors (the “Activist Group”) to take control of the Board could jeopardize this progress, give them access to AIM’s capital to reimburse themselves more than $5 million dollars and destroy the chances of near-term value creation for shareholders. The Activist Group lacks a clear plan for AIM – as leading proxy advisory firms Institutional Shareholder Services Inc. and Glass, Lewis & Co., LLC both concluded – and shareholders should not be taken in by their desperate eleventh hour attempts to make it seem otherwise.

Shareholders can Safeguard AIM by voting “FOR” all four of the Board’s incumbent candidates – Stewart L. Appelrouth, Nancy K. Bryan, Thomas K. Equels and Dr. William M. Mitchell – on the WHITE universal proxy card.

It is extremely important that shareholders vote as soon as possible – no matter how many shares they own.

Given that the Annual Meeting is quickly approaching, shareholders are encouraged to vote by internet according to the instructions on their WHITE universal proxy card.

If shareholders have any questions or require any assistance in voting their shares, please contact our proxy solicitor:

Sodali & Co.
430 Park Avenue, 14th Floor
New York, NY 10022

Shareholders may call toll-free: (800) 662-5200
Banks, Brokers, Trustees, and Other Nominees Call Collect: (203) 658-9400
Email: AIM@investor.Sodali.com

For more information visit: www.SafeguardAIM.com.

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About AIM ImmunoTech Inc.

AIM ImmunoTech Inc. is an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders and viral diseases, including COVID-19. The Company’s lead product is a first-in-class investigational drug called Ampligen^® (rintatolimod), a dsRNA and highly selective TLR3 agonist immuno-modulator with broad spectrum activity in clinical trials for globally important cancers, viral diseases and disorders of the immune system.

For more information, please visit aimimmuno.com and connect with the Company on X, LinkedIn, and Facebook.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “continue,” “believe,” “potential,” “upcoming” and other variations thereon and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. Many of these forward-looking statements involve a number of risks and uncertainties. Data, pre-clinical success and clinical success seen to date does not guarantee that Ampligen will be approved as a treatment or therapy for any diseases or conditions. The Company urges investors to consider specifically the various risk factors identified in its most recent Annual Report on Form 10-K, and any risk factors or cautionary statements included in any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission (the “SEC”). You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Among other things, for those statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the PSLRA. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof.

Important Additional Information

The Company, its directors and executive officers, Peter W. Rodino, III and Robert Dickey, IV, are deemed to be “participants” (as defined in Section 14(a) of the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from the Company’s stockholders in connection with the Annual Meeting. The Company filed its definitive proxy statement (the “Definitive Proxy Statement”) and a WHITE universal proxy card with the SEC on November 4, 2024 in connection with such solicitation of proxies from the Company’s stockholders. STOCKHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH DEFINITIVE PROXY STATEMENT, ACCOMPANYING WHITE UNIVERSAL PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE ANNUAL MEETING. The Definitive Proxy Statement contains information regarding the identity of the participants, and their direct and indirect interests, by security holdings or otherwise, in the Company’s securities and can be found in the section titled “Principal Stockholders” of the Definitive Proxy Statement and available here. Information regarding subsequent changes to their holdings of the Company’s securities can be found in the SEC filings on Forms 3, 4, and 5, which are available on the Company’s website available here or through the SEC’s website at www.sec.gov. Stockholders will be able to obtain the Definitive Proxy Statement, any amendments or supplements thereto and other documents filed by the Company with the SEC at no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge at the Company’s website at https://aimimmuno.com/sec-filings/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241215458142/en/

Investor Contact:

JTC Team, LLC

Jenene Thomas

908-824-0775

AIM@jtcir.com

Media Contact:

Longacre Square Partners

Joe Germani / Miller Winston

AIM@longacresquare.com

Source: AIM ImmunoTech Inc.

FAQ

When is AIM ImmunoTech's 2024 Annual Meeting scheduled?

AIM ImmunoTech's 2024 Annual Meeting is scheduled for December 17, 2024, at 11:00 a.m. ET.

What are the key issues in AIM's proxy contest with the Activist Group?

The key issues involve control of the Board, with AIM defending its incumbent directors against an Activist Group that could potentially seek over $5 million in reimbursements and lacks a clear business plan according to proxy advisory firms.

How many incumbent Board members is AIM asking shareholders to vote for?

AIM is asking shareholders to vote for all four incumbent Board members: Stewart L. Appelrouth, Nancy K. Bryan, Thomas K. Equels, and Dr. William M. Mitchell.

What are the major proxy advisory firms saying about AIM's proxy contest?

Both Institutional Shareholder Services (ISS) and Glass Lewis have concluded that the Activist Group lacks a clear plan for AIM.

What is AIM's main drug candidate mentioned in the proxy contest?

Ampligen is mentioned as AIM's lead drug candidate, which has attracted partnerships with large biopharmaceutical companies and research organizations.