AN2 Therapeutics Adopts Limited Duration Stockholder Rights Plan, Which Is Scheduled To Expire On August 15, 2025
Portfolio Pulse from Benzinga Newsdesk
AN2 Therapeutics has adopted a limited duration stockholder rights plan, set to expire on August 15, 2025, in response to BML Investment Partners acquiring 19.3% of its common stock. The plan aims to prevent any entity from acquiring 20% or more of the company's stock without triggering the rights plan.
August 16, 2024 | 11:04 am
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AN2 Therapeutics has implemented a stockholder rights plan to prevent hostile takeovers after BML Investment Partners acquired 19.3% of its stock. The plan will expire on August 15, 2025.
The adoption of the stockholder rights plan is a defensive measure to prevent any entity from acquiring a controlling interest in AN2 Therapeutics without board approval. This move is likely to stabilize the stock price in the short term by deterring potential hostile takeovers.
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