Blucora Contrasts Expertise and Progress Under Current Board Against Ancora’s Questionable Nominees in Letter to Stockholders

Rhea-AI Summary

Blucora, Inc. (NASDAQ: BCOR) emphasizes its seasoned Board of Directors in a letter to shareholders ahead of the April 21, 2021 annual meeting. The company urges stockholders to vote for its nominees using the BLUE proxy card, highlighting a 91% increase in share price over six months, outperforming the S&P 500 by 72 percentage points. Blucora opposes the nomination of Ancora's associates, arguing they lack relevant experience. The company underscores its commitment to long-term growth in tax-focused financial solutions.

Positive

• Share price increased 91% over the past six months, significantly outperforming the S&P 500 by 72 percentage points.
• Current Board possesses relevant experience and demonstrated capacity for sustainable, long-term growth.

Negative

• Ancora's nomination could disrupt Board's current effective leadership, introducing individuals with questionable relevant experience.

Current Balanced, Diverse Board of Directors Brings Expertise Gained at Some of World’s Most Respected Companies, Further Augmented by Four New Directors Since March 2020

Ancora Nominees Lack Relevant Experience and Would Weaken the Board

DALLAS, March 24, 2021 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ: BCOR), a leading provider of technology-enabled, tax-focused financial solutions, today mailed a letter to its stockholders presenting the current Board’s relevant experience and deep expertise. In connection with the Company’s upcoming 2021 annual meeting of stockholders, scheduled to be held on April 21, 2021, the Company urges stockholders to vote “FOR” ALL of the Company’s highly qualified director candidates using the BLUE proxy card. Blucora stockholders of record at the close of business on February 24, 2021 are eligible to vote at the annual meeting.

Under the leadership of the current Board and management team, Blucora is gaining momentum and showing measurable improvement after repositioning its two tax-focused businesses for sustainable, long-term growth. In fact, Blucora’s share price has increased 91% over the past six months through March 18, 2021, outperforming the S&P 500 by 72 percentage points.

Ancora Catalyst Institutional, LP (together with its affiliates, “Ancora”), an activist stockholder that recently accumulated approximately 3% of Blucora’s outstanding shares, has nominated Ancora’s CEO Fred DiSanto and two of his close associates and a marketing director at a New York hedge fund to fill nearly half the independent director seats on Blucora’s Board. Blucora does not believe stockholders would be well served by replacing the leading and diverse executives on the current Board with Ancora’s associates and nominees.

Blucora encourages stockholders to reelect the current Board, which has demonstrated both its capacity and commitment to act for the benefit of all stockholders by voting “FOR” ALL nominees on the BLUE proxy card.

The letter and other important information related to the Annual Meeting can be found at VoteBlucora.com.

If you are a stockholder and have questions, need assistance in voting your shares, or wish to change a prior vote, please contact:

D.F. King & Co., Inc.
48 Wall Street, 22nd Floor
New York, New York 10005
Brokers and Banks Call Collect: (212) 269-5550
All Others Call Toll-Free: (866) 388-7535
Email: BCOR@dfking.com

REMEMBER: Simply discard any white proxy card you may receive from Ancora. Blucora’s Board does not endorse any of Ancora’s nominees, and we urge you NOT to submit any vote using Ancora’s white proxy card, even as a protest vote. Voting to “WITHHOLD” with respect to any of Ancora’s nominees on a white proxy card sent to you by Ancora is not the same as voting “FOR” the Board’s nominees on the BLUE proxy card because a vote to “WITHHOLD” with respect to any of Ancora’s nominees on its white proxy card will revoke any BLUE proxy you may have previously submitted.

Important Additional Information and Where to Find It

The Company has filed a definitive proxy statement, an accompanying BLUE proxy card and other relevant documents with the SEC in connection with the solicitation of proxies for the Company’s 2021 annual meeting of stockholders. BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS OF THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT, INCLUDING ANY AMENDMENTS AND SUPPLEMENTS THERETO, AND ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and stockholders will be able to obtain a copy of the Company’s definitive proxy statement and other documents filed by the Company with the SEC free of charge from the SEC’s website at www.sec.gov. In addition, copies will be available at no charge by selecting “SEC Filings” under “Financial Information” in the “Investors” tab of the Company’s website at www.blucora.com.

About Blucora®

Blucora, Inc. (NASDAQ: BCOR) is on the forefront of financial technology, a provider of data and technology-driven solutions that empower people to improve their financial wellness. Blucora operates in two segments including (i) wealth management, through its Avantax Wealth Management brand, with a collective $83 billion in total client assets as of December 31, 2020, and (ii) tax preparation, through its TaxAct business, a market leader in tax preparation software with approximately 3 million consumer and more than 23,000 professional users in 2020. With integrated tax-focused software and wealth management, Blucora is uniquely positioned to assist our customers in achieving better long-term outcomes via holistic, tax-advantaged solutions. For more information on Blucora, visit www.blucora.com.

Contacts

Investors:
Geoffrey Weinberg / Rick Grubaugh
D.F. King & Co., Inc.
(866) 388-7535
BCOR@dfking.com

Media:
Dan Gagnier / Jeffrey Mathews
Gagnier Communications
(646) 569-5897
Blucora@gagnierfc.com 

FAQ

What is the current share price performance of Blucora (BCOR)?

Blucora's share price has increased by 91% over the past six months, outperforming the S&P 500 significantly.

When is Blucora's annual meeting of stockholders?

The annual meeting of Blucora stockholders is scheduled for April 21, 2021.

What do shareholders need to know about voting for Blucora's nominees?

Shareholders are encouraged to vote for all of Blucora's nominees using the BLUE proxy card, as votes for Ancora's nominees could undermine the Board.

Who is challenging Blucora's Board of Directors?

Ancora Catalyst Institutional has nominated its own candidates to replace nearly half of Blucora's independent directors.

What is Blucora's business strategy?

Blucora focuses on technology-enabled, tax-focused financial solutions, aiming for sustainable, long-term growth in its wealth management and tax preparation services.