Investor Group Urges Stockholders of Pasithea Therapeutics to Vote to Call Special Meeting

Rhea-AI Summary

The Investor Group comprising Camac Partners, Concord Investment Partners, and Leonite Capital, significant stockholders of Pasithea Therapeutics Corp. (NASDAQ: KTTA), announced their intention to call a Special Meeting of Stockholders. Their motivation is a lack of confidence in the current Board of Directors, which they believe is mismanaging investor capital. The group urges fellow shareholders to support their initiative by returning proxy cards promptly, emphasizing that every vote is crucial for their efforts to succeed.

Positive

• Investor Group has significant stockholder backing to call a Special Meeting.
• High degree of investor engagement and support from fellow stockholders.

Negative

• Lack of confidence in the incumbent Board of Directors regarding capital stewardship.

--Near Threshold Required, Every Vote Matters--

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 together are one of the largest stockholders of Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), today issued the following letter to their fellow stockholders:

August 24, 2022

Dear Pasithea Stockholders,

As you know, we are seeking to call a Special Meeting of Stockholders at Pasithea for a simple reason: we have lost all confidence in the incumbent Board of Directors to be effective and prudent stewards of our capital. Each of us are substantial investors in Pasithea, and we don’t want to see that investment squandered by directors who are more interested in taking care of themselves and their hand-picked allies than stockholders.

We have been pleased with the high degree of investor engagement and support we have received thus far, such that we are close to the threshold needed to call the special meeting. But EVERY VOTE COUNTS. If you have not returned your proxy card in support of our efforts, please do so immediately, either by reaching us directly or through InvestorCom, whose contact information is below. Thank you!

View source version on businesswire.com: https://www.businesswire.com/news/home/20220824005224/en/

For Investors:

InvestorCom LLC

John Grau, 203-972-9300

info@investor-com.com

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

FAQ

What is the reason for the Investor Group's call for a Special Meeting of Stockholders for KTTA?

The Investor Group lacks confidence in the current Board of Directors' ability to manage investor capital effectively.

Who are the members of the Investor Group seeking the Special Meeting for Pasithea Therapeutics?

The Investor Group includes Camac Partners, Concord Investment Partners, and Leonite Capital.

What actions should KTTA stockholders take in response to the Investor Group's call?

Stockholders are urged to return their proxy cards to support the Investor Group's initiative.

Why does every vote count in the KTTA Special Meeting effort?

The Investor Group is close to the threshold needed to call the Special Meeting, making every vote critical.