Navidea Biopharmaceuticals Announces the Extension of Plan Designed to Protect NOLs and Other Tax Assets
Navidea Biopharmaceuticals (NAVB) has announced the extension of its Section 382 Rights Agreement from April 6, 2025, to April 7, 2027. This strategic move aims to protect approximately $170 million in U.S. federal NOLs and $9 million in R&D tax credits that could offset future taxable income.
The Rights Plan prevents an 'ownership change' under Section 382 of the Internal Revenue Code by discouraging any person or group from acquiring 4.99% or more of Navidea's outstanding common stock. If triggered, existing shareholders can purchase shares at a 50% discount or receive five shares for each right, excluding the acquiring party.
The company originally implemented this plan on April 7, 2022, declaring one preferred share purchase right per common stock outstanding as of April 12, 2022. The Board maintains discretion to grant exemptions to this plan.
Navidea Biopharmaceuticals (NAVB) ha annunciato l'estensione del suo Accordo sui Diritti ai sensi della Sezione 382 dal 6 aprile 2025 al 7 aprile 2027. Questa mossa strategica mira a proteggere circa $170 milioni in NOL federali statunitensi e $9 milioni in crediti d'imposta per R&S che potrebbero compensare futuri redditi imponibili.
Il Piano dei Diritti previene un 'cambio di proprietà' ai sensi della Sezione 382 del Codice Fiscale Interno scoraggiando qualsiasi persona o gruppo dall'acquisire il 4,99% o più delle azioni ordinarie in circolazione di Navidea. Se attivato, gli azionisti esistenti possono acquistare azioni a un prezzo scontato del 50% o ricevere cinque azioni per ogni diritto, escludendo la parte acquirente.
L'azienda ha implementato originariamente questo piano il 7 aprile 2022, dichiarando un diritto di acquisto di un'azione privilegiata per ogni azione ordinaria in circolazione al 12 aprile 2022. Il Consiglio mantiene la discrezione di concedere esenzioni a questo piano.
Navidea Biopharmaceuticals (NAVB) ha anunciado la extensión de su Acuerdo de Derechos de la Sección 382 desde el 6 de abril de 2025 hasta el 7 de abril de 2027. Este movimiento estratégico tiene como objetivo proteger aproximadamente $170 millones en NOL federales de EE. UU. y $9 millones en créditos fiscales de I+D que podrían compensar futuros ingresos imponibles.
El Plan de Derechos evita un 'cambio de propiedad' según la Sección 382 del Código de Rentas Internas al desincentivar a cualquier persona o grupo a adquirir el 4.99% o más de las acciones ordinarias en circulación de Navidea. Si se activa, los accionistas existentes pueden comprar acciones con un descuento del 50% o recibir cinco acciones por cada derecho, excluyendo a la parte adquirente.
La empresa implementó originalmente este plan el 7 de abril de 2022, declarando un derecho de compra de una acción preferente por cada acción ordinaria en circulación al 12 de abril de 2022. La Junta mantiene la discreción de otorgar exenciones a este plan.
Navidea Biopharmaceuticals (NAVB)는 2025년 4월 6일부터 2027년 4월 7일까지 섹션 382 권리 계약을 연장한다고 발표했습니다. 이 전략적 조치는 약 $170 million의 미국 연방 NOL과 $9 million의 연구 및 개발 세액 공제를 보호하는 것을 목표로 하여 향후 과세 소득을 상쇄할 수 있습니다.
권리 계획은 섹션 382에 따라 '소유권 변경'을 방지하여 어떤 개인이나 그룹이 Navidea의 발행 주식의 4.99% 이상을 인수하는 것을 저지합니다. 발동될 경우 기존 주주들은 50% 할인된 가격으로 주식을 구매하거나 인수당사자를 제외하고 각 권리에 대해 다섯 주식을 받을 수 있습니다.
회사는 원래 2022년 4월 7일에 이 계획을 시행하였으며, 2022년 4월 12일 기준으로 발행된 보통주당 하나의 우선주 매수 권리를 선언했습니다. 이사회는 이 계획에 대한 면제를 부여할 재량권을 유지합니다.
Navidea Biopharmaceuticals (NAVB) a annoncé l'extension de son Accord de Droits en vertu de la Section 382 du 6 avril 2025 au 7 avril 2027. Ce mouvement stratégique vise à protéger environ 170 millions de dollars en NOL fédéraux américains et 9 millions de dollars en crédits d'impôt pour la R&D qui pourraient compenser des revenus imposables futurs.
Le Plan de Droits empêche un 'changement de propriété' en vertu de la Section 382 du Code des impôts interne en décourageant toute personne ou groupe d'acquérir 4,99 % ou plus des actions ordinaires en circulation de Navidea. Si déclenché, les actionnaires existants peuvent acheter des actions à un prix réduit de 50 % ou recevoir cinq actions pour chaque droit, à l'exception de la partie acquéreuse.
L'entreprise a initialement mis en œuvre ce plan le 7 avril 2022, déclarant un droit d'achat d'une action privilégiée par action ordinaire en circulation au 12 avril 2022. Le Conseil conserve la discrétion d'accorder des exemptions à ce plan.
Navidea Biopharmaceuticals (NAVB) hat die Verlängerung seiner Rechtevereinbarung gemäß Abschnitt 382 vom 6. April 2025 auf den 7. April 2027 angekündigt. Dieser strategische Schritt zielt darauf ab, etwa 170 Millionen Dollar an US-Bundes-NOLs und 9 Millionen Dollar an F&E-Steuergutschriften zu schützen, die zukünftiges zu versteuerndes Einkommen ausgleichen könnten.
Der Rechteplan verhindert einen 'Eigentumswechsel' gemäß Abschnitt 382 des Internal Revenue Code, indem er jede Person oder Gruppe davon abhält, 4,99% oder mehr der ausgegebenen Stammaktien von Navidea zu erwerben. Wenn dies ausgelöst wird, können bestehende Aktionäre Aktien mit einem Rabatt von 50% kaufen oder fünf Aktien für jedes Recht erhalten, wobei die erwerbende Partei ausgeschlossen ist.
Das Unternehmen hat diesen Plan ursprünglich am 7. April 2022 implementiert und ein Kaufrecht für eine Vorzugsaktie pro ausgegebener Stammaktie zum 12. April 2022 erklärt. Der Vorstand behält sich das Ermessen vor, Ausnahmen von diesem Plan zu gewähren.
- Protection of substantial tax assets worth $170M in NOLs and $9M in R&D credits
- Implementation of shareholder protection mechanism against ownership dilution
- Company trading on OTC markets rather than major exchanges
- History of operating losses indicated by large NOL accumulation
The Section 382 Rights Plan is designed to safeguard Navidea’s ability to utilize its net operating loss carryforwards (“NOLs”) and other tax assets. As of December 31, 2024, Navidea had approximately
To help prevent such an event, the Section 382 Rights Plan discourages any individual or group from acquiring beneficial ownership of
If the rights are triggered, all shareholders—except for the acquiring party—will be entitled to purchase shares at a
Craig Dais, Navidea’s Chief Financial Officer, commented, “Extending the Section 382 Rights Plan ensures we continue to protect our significant NOLs, a key financial asset for the Company’s future.”
About Navidea
Navidea Biopharmaceuticals, Inc. (OTC: NAVB) is a biopharmaceutical company focused on the development of precision immunodiagnostic agents and immunotherapeutics. Navidea is developing multiple precision-targeted products based on its Manocept platform to enhance patient care by identifying the sites and pathways of disease and enable better diagnostic accuracy, clinical decision-making, and targeted treatment. Navidea’s Manocept platform is predicated on the ability to specifically target the CD206 mannose receptor expressed on activated macrophages. The Manocept platform serves as the molecular backbone of Tc99m tilmanocept, the first product developed and commercialized by Navidea based on the platform. Navidea’s strategy is to deliver superior growth and shareholder return by bringing to market novel products and advancing the Company’s pipeline through global partnering and commercialization efforts. For more information, visit www.navidea.com.
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Investor Relations Contact
Navidea Biopharmaceuticals, Inc.
Craig A. Dais, Chief Financial Officer
cdais@navidea.com
(614)-822-2322
Source: Navidea Biopharmaceuticals, Inc.