Velan-Repertoire Comments on Proposed Sale of Radius Health to Gurnet Point Capital and Patient Square Capital

Rhea-AI Summary

Velan Capital and Repertoire Partners, significant shareholders of Radius Health (RDUS) owning 7.7% of shares, have commented on Gurnet Point Capital and Patient Square Capital's proposed acquisition of Radius valued at $890 million. They express satisfaction that others see untapped value in Radius but highlight concerns over the fairness of the offer. The group advocates for the election of their director nominees, emphasizing their potential to contribute valuable insights whether Radius remains independent or proceeds with the acquisition.

Positive

• Ownership of approximately 7.7% of Radius shares signifies a strong commitment from Velan-Repertoire.
• Recognition by multiple parties of the untapped value in Radius's assets.

Negative

• Concerns regarding whether the acquisition price reflects fair value for shareholders.
• Need for further disclosures about the acquisition rationale and process.

ALPHARETTA, Ga.--(BUSINESS WIRE)-- Velan Capital Investment Management LP and Repertoire Partners LP (together with the other participants in their solicitation, “Velan-Repertoire” or “we”), collectively one of the largest stockholders of Radius Health, Inc. (“Radius” or the “Company”) (NASDAQ: RDUS), with beneficial ownership of approximately 7.7% of the outstanding shares and economic exposure to approximately 10.1% of the outstanding shares, today issued the following comment in response to the proposed acquisition of Radius by Gurnet Point Capital and Patient Square Capital in a transaction valued at up to approximately $890 million:

“While we are pleased that other parties also recognize there is untapped value in Radius and its assets, we are continuing to evaluate whether this deal represents a fair price for stockholders. We look forward to discussing the terms of this transaction with other stockholders and reviewing further disclosures about the rationale and process leading up to this decision.

We also continue to believe that our director nominees – Eric Ende, Cynthia Flowers and Ann MacDougall – would be valuable additions to the Board, whether by providing objective perspectives on the fairness and advisability of this proposed transaction or if Radius ultimately remains a standalone entity. We plan on continuing to engage with our fellow investors regarding the proposed deal and our nomination of director candidates.”

Velan-Repertoire urges all stockholders to vote for change on the WHITE proxy card to elect Eric Ende, Cynthia Flowers and Ann MacDougall

View source version on businesswire.com: https://www.businesswire.com/news/home/20220624005083/en/

Investor:

Adam Morgan

(646) 844-0030

campaign@velancapital.com

Okapi Partners LLC

Pat McHugh / Jason Alexander

(212) 297-0720

info@okapipartners.com

Media:

Longacre Square Partners

Dan Zacchei / Miller Winston

DZacchei@longacresquare.com / MWinston@longacresquare.com

Source: Velan Capital Investment Management LP and Repertoire Partners LP

FAQ

What percentage of Radius Health shares do Velan and Repertoire own?

Velan Capital and Repertoire Partners own approximately 7.7% of Radius Health shares.

What is the value of the proposed acquisition of Radius Health?

The proposed acquisition of Radius Health by Gurnet Point Capital and Patient Square Capital is valued at up to approximately $890 million.

Who are the director nominees suggested by Velan-Repertoire?

The director nominees suggested by Velan-Repertoire are Eric Ende, Cynthia Flowers, and Ann MacDougall.

What concerns did Velan-Repertoire express about the acquisition?

Velan-Repertoire expressed concerns about whether the acquisition represents a fair price for Radius stockholders.

What is the significance of Velan-Repertoire's statement for Radius Health investors?

The statement indicates ongoing scrutiny of the acquisition deal, highlighting potential impacts on shareholder value.