JDS1, LLC Terminates Proxy Contest at Catalyst’s 2022 Annual Meeting

Rhea-AI Summary

JDS1, LLC, which owns approximately 8.4% of Catalyst Biosciences, Inc. (NASDAQ: CBIO), announced the withdrawal of its director nominations and non-binding proposals ahead of Catalyst's 2022 Annual Meeting. This decision included terminating its proxy contest, with no agreements made with Catalyst regarding this withdrawal. JDS1 advised Catalyst's stockholders that the GOLD proxy cards previously received will not be counted and will be discarded.

Positive

• JDS1, LLC remains a significant stakeholder with 8.4% ownership, indicating potential influence in future corporate developments.

Negative

• None.

 

FORT LEE, N.J.--(BUSINESS WIRE)-- JDS1, LLC (“JDS1”), which collectively with the other reporting persons in its Section 13(d) group, beneficially owns approximately 8.4% of the outstanding common stock of Catalyst Biosciences, Inc. (NASDAQ: CBIO) (“Catalyst” or the “Company”), commented today on its previously announced withdrawal of the director nominations and other proposed business that it had intended to bring before the upcoming 2022 Annual Meeting of Stockholders of Catalyst Biosciences, Inc.

As previously disclosed last week in its public filings with the Securities and Exchange Commission, JDS1 has withdrawn its nominations of candidates for election to the Catalyst Board of Directors at Catalyst’s Annual Meeting and its non-binding business proposal requesting that the Catalyst Board take action to declassify. In connection with the withdrawal of its director nominations and non-binding business proposal, JDS1 and the other persons that were participants in its solicitation of proxies have terminated their proxy contest at Catalyst’s Annual Meeting. JDS1’s withdrawal of its director nominations and non-binding business proposal, and the termination of its proxy contest at Catalyst’s Annual Meeting, were not pursuant to any agreement, arrangement, or understanding between JDS1 and its fellow participants, on the one hand, and Catalyst or any other person, on the other hand.

CATALYST STOCKHOLDERS ARE ADVISED THAT, IN LIGHT OF JDS1’S TERMINATION OF ITS PROXY CONTEST, THE GOLD PROXY CARDS RECEIVED BY JDS1 IN CONNECTION WITH CATALYST’S 2022 ANNUAL MEETING WILL NOT BE VOTED AND WILL BE DISCARDED.

About JDS1, LLC

JDS1, LLC is a value-oriented investment firm based in Fort Lee, New Jersey. JDS1 is led by Julian D. Singer.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220811005147/en/

JDS1, LLC

Julian D. Singer, (201) 592-3400

Source: JDS1, LLC

FAQ

What happened with JDS1 and Catalyst Biosciences regarding the 2022 Annual Meeting?

JDS1 withdrew its director nominations and non-binding proposals for Catalyst's 2022 Annual Meeting, terminating its proxy contest.

What percentage of Catalyst Biosciences does JDS1 own?

JDS1 owns approximately 8.4% of the outstanding common stock of Catalyst Biosciences.

Will the GOLD proxy cards from JDS1 be counted in the 2022 Annual Meeting?

No, the GOLD proxy cards received by JDS1 will not be voted and will be discarded.

Who leads JDS1, LLC?

JDS1, LLC is led by Julian D. Singer.