Investor Group Recommends Stockholders Vote the WHITE Proxy Card for Boardroom Change at Pasithea Therapeutics

Rhea-AI Summary

Camac Partners and affiliates, the largest external stockholder of Pasithea Therapeutics Corp. (NASDAQ: KTTA), are advocating for the removal of the Company’s Board of Directors. This call to action comes ahead of the Special Meeting scheduled for November 29. The Investor Group criticizes the Board for its management decisions and perceived disenfranchisement of stockholders, urging fellow investors to support their proposals using the WHITE proxy card.

Positive

• The Investor Group represents the largest external stockholder, reflecting significant backing for proposed changes.
• The call for improved corporate governance is aimed at enhancing long-term value for stockholders.

Negative

• The Board's recent actions, including dilutive acquisitions, have been criticized for undermining shareholder rights.
• The short notice for the Special Meeting is viewed as a disregard for stockholder engagement.

Believes Removing All Incumbent Directors Will Position Pasithea to Enhance Corporate Governance, Improve Capital Allocation and Deliver Long Term Value

Urges Stockholders to Vote for ALL Proposals on the WHITE Proxy Card at Pasithea’s November 29^th Special Meeting

NEW YORK & TORONTO--(BUSINESS WIRE)-- Camac Partners, LLC, affiliates of Concord Investment Partners Ltd., and Leonite Capital LLC (collectively with their affiliates, the “Investor Group” or “we”), who are collectively the largest external stockholder of Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), today issued the below statement in connection with its efforts to remove the Company’s Board of Directors (the “Board”) at the upcoming Special Meeting of Stockholders (the “Special Meeting”) on Tuesday, November 29, 2022:

“Our singular goal in this campaign has been to help put Pasithea back on the path to create value for stockholders. We are deeply disappointed that Pasithea has scheduled the Special Meeting to occur with just a few days of notice and over a holiday period. This is a stunning disregard for stockholder rights, and it is another in a long line of actions—including multiple dilutive acquisitions—taken by the incumbent Board that are calculated to disenfranchise stockholders. We strongly believe that it is time for stockholders to take back their Company and vote to remove all of Pasithea’s sitting directors.

We urge our fellow stockholders to vote to improve Pasithea at the Special Meeting by voting FOR all matters on the WHITE proxy card.”

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VOTE THE WHITE PROXY CARD TODAY

If you have any questions on how to vote your shares on the WHITE proxy card, please contact InvestorCom LLC by email at info@investor-com.com or by telephone at 203-972-9300.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221122005823/en/

For Investors:

Concord Investment Partners Ltd.

David Delaney, 416-951-9214

ddelaney@concordinvestmentpartners.com



InvestorCom LLC

John Grau, 203-972-9300

info@investor-com.com



For Media:

Longacre Square Partners

Charlotte Kiaie / Aaron Rabinovich, 646-386-0091

ckiaie@longacresquare.com / arabinovich@longacresquare.com

Source: CAMAC PARTNERS, LLC AND AFFILIATES OF CONCORD INVESTMENT PARTNERS LTD. AND LEONITE CAPITAL LLC

FAQ

What is the upcoming Special Meeting date for Pasithea Therapeutics Corp. (KTTA)?

The Special Meeting is scheduled for November 29, 2022.

Who is advocating for the removal of Pasithea's Board of Directors?

Camac Partners, LLC and its affiliates are leading the campaign.

What proxy card should Pasithea stockholders use to vote?

Stockholders are urged to vote using the WHITE proxy card.

Why do the Investor Group want to remove the Board of Directors?

They believe in improving corporate governance and capital allocation to create long-term value for stockholders.