Rockwell Medical, Inc. (NASDAQ:RMTI) today mailed a letter to its
shareholders in connection with the Company’s upcoming 2017 Annual
Meeting of Shareholders (“Annual Meeting”) to be held on June 1,
2017.
The Rockwell Medical Board of Directors unanimously recommends
shareholders vote on the WHITE proxy card today
“FOR” David Domzalski, “FOR” each of the proposals listed in the
proxy statement and “FOR” holding the “say on pay” advisory vote on
executive compensation every THREE years.
Shareholders that have already voted the Blue
proxy card still have time to change their vote. Shareholders
are encouraged to act quickly by voting today at www.proxyvote.com
or by calling 1-800-454-8683.
All materials related to the Annual Meeting, including the
Company’s proxy statement and shareholder presentation, can be
found on the company’s website at www.rockwellmed.com.
The full text of the letter follows:
YOUR VOTE IS IMPORTANT
ELECTING MARK RAVICH TO ROCKWELL’S BOARD
COULD DO LASTING HARM
May 22, 2017
Dear Fellow Shareholder:
The Rockwell Medical 2017 Annual Meeting of
shareholders is fast approaching. On June 1, 2017,
shareholders will have the opportunity to elect David Domzalski to
our Board, an individual with the ability to help maximize
shareholder value. We encourage you to take advantage of this
opportunity to advance our global Triferic commercialization
initiative by voting on the WHITE proxy card
today.
WE BELIEVE ELECTING MARK RAVICH TO THE BOARD
WILL HARM THE COMPANY AND COULD PRESENT US WITH SERIOUS
SETBACKS:
- Mr. Ravich has no experience in the pharma
industry or in advancing Rockwell’s strategic initiatives
to commercialize Triferic in the U.S. or globally – he would bring
no value to our business or our shareholders.
- Mr. Ravich has consistently loaned his Rockwell shares
to short-sellers (knowingly pressuring RMTI’s share price
lower), while bragging about the monthly income he makes by doing
so. We believe this clearly shows that he cares more about his own
personal gain rather than the best interest of Rockwell
shareholders.
- Mr. Ravich was confronted with potential
bankruptcy as CEO of
Universal International after posting eight consecutive
quarterly losses, and before the company was taken over by its
largest shareholder.
- Mr. Ravich has a poor record of performance and
corporate governance at Orchid’s Paper Products Company,
where he is Chairman of the Governance Committee. Since joining
Orchid’s board in February 2013, Orchid’s stock price has declined
by approximately 40%. Even worse, since announcing the
suspension of its quarterly dividend last month, Orchid’s
stock has plummeted by approximately 48%!
- We do not believe Mr. Ravich can help attract new
investors as well as David Domzalski - who has attracted
high-quality, institutional investors to Foamix Pharmaceuticals.
- If elected to the Board, Mr. Ravich will collect a
Director fee for 3 years without contributing to what we
believe the Company really needs, and shareholders will miss the
opportunity to have a seasoned pharma executive whose experience
can help advance Rockwell’s business.
- If elected to the Board, we believe Mr. Ravich will
wage another costly and distracting proxy fight with Richmond
Brothers to gain control of the Company next year.
IT’S IMPORTANT FOR SHAREHOLDERS TO
KNOW: David Richmond and Mark Ravich each personally own
less than 1.0% of Rockwell Medical stock -- significantly less than
the 11.8% they have stated they own on behalf of themselves and
Richmond Brothers’ clients. We believe they have intentionally
misled shareholders by suggesting they have more voting power than
they actually have.
Despite what Richmond Brothers has said
publicly, they have told us they believe Triferic will get add-on
reimbursement, and the strategy to secure it before booking sales
with bundled reimbursement is the correct one.
Furthermore, they have told us directly that
they plan to get Mark Ravich elected to the Board this year and
then launch another proxy campaign next year to gain control of the
Company.
PROTECT YOUR INVESTMENT BY VOTING “FOR”
DAVID DOMZALSKION THE WHITE PROXY CARD
TODAY!
DAVID DOMZALSKI IS THE RIGHT DIRECTOR
FOR OUR BOARD
David Domzalski is completely independent of
Rockwell’s Board and management. He was identified as an
exceptional candidate by a third-party consulting firm as part of
Rockwell’s year-long search for new directors. David has the
right experience that can advance our effort to commercialize
Triferic both in the U.S. and globally, to ensure shareholders see
maximum returns on their investment. Mr. Domzalski's
relevant and important experience includes:
- Negotiating with CMS for favorable reimbursement
- Obtaining private insurer reimbursement
- Launching a novel drug therapy
- Marketing and selling novel therapies to providers
- Managing third-party manufacturing arrangements
- Managing global partnerships for drug distribution
- Overseeing growth pharma enterprises
- Building strong relationships with institutional investment
funds
This experience is all directly relevant to
growing Rockwell Medical and improving share price.
WE ENCOURAGE ALL SHAREHOLDERS TO REVIEW
THE FACTS AND VOTE “FOR” DAVID DOMZALSKI ON THE
WHITE PROXY CARD
If you have already voted the Blue proxy card,
you can still change your vote.We encourage you to act quickly by
voting today at www.proxyvote.com or by calling 1-800-454-8683.
You may also vote by signing and dating the
enclosed WHITE proxy card and returning it in the
prepaid envelope provided. We need your help in protecting Rockwell
and in creating value for all shareholders.
Thank you again for your support!
Sincerely,
The Rockwell Medical Board of
Directors
IMPORTANT VOTING INFORMATION |
Make sure your vote counts in time! |
Please vote online today at www.proxyvote.com or by calling
800-454-8683. |
|
VOTE |
“FOR” DAVID DOMZALSKI |
|
VOTE “FOR” THE COMPENSATION OF
THE |
NAMED EXECUTIVE OFFICERS |
|
VOTE “THREE YEARS” |
with respect to the frequency of shareholder advisory votes |
on the Company’s executive compensation |
|
VOTE “FOR” APPROVAL OF THE |
2017 LONG TERM INCENTIVE PLAN |
|
VOTE “FOR” PLANTE &
MORAN |
as the Company’s independent registered public accounting firm |
|
VOTE ONLINE | VOTE BY PHONE | VOTE
BY MAIL |
If you voted the Blue proxy card you can
change your vote using the WHITE proxy card.
Many shareholders have changed their
votes after getting all the facts and recognizing that Mr. Ravich
and Richmond Brothers are out for themselves – not Rockwell
shareholders.
If you have any questions or require any assistance with
voting your shares, please contact the Company’s proxy solicitor DF
King |
|
Telephone: 212-269-5550 or 800-884-4725 | Email:
Rockwell@dfking.com |
|
Vote today at www.proxyvote.com or
1-800-454-8683 |
About Rockwell MedicalRockwell
Medical is a fully-integrated biopharmaceutical company targeting
end-stage renal disease (ESRD) and chronic kidney disease (CKD)
with innovative products for the treatment of iron replacement,
secondary hyperparathyroidism and hemodialysis.
Rockwell’s innovative drug Triferic is the
only FDA approved therapy to replace iron and maintain hemoglobin
in hemodialysis patients suffering from anemia. Triferic delivers
iron to patients during their regular dialysis treatment, using
dialysate as the delivery mechanism. Triferic has demonstrated that
it safely and effectively delivers sufficient iron to the bone
marrow and maintains hemoglobin, without increasing iron stores
(ferritin). Rockwell intends to market Triferic to hemodialysis
patients in the U.S. dialysis market and globally.
Rockwell’s FDA approved generic drug Calcitriol
is for treating secondary hyperparathyroidism in dialysis patients.
Calcitriol (active vitamin D) injection is indicated in the
management of hypocalcemia in patients undergoing chronic renal
dialysis. It has been shown to significantly reduce elevated
parathyroid hormone levels. Reduction of PTH has been shown to
result in an improvement in renal osteodystrophy. Rockwell
intends to market Calcitriol to hemodialysis patients in the U.S.
dialysis market.
Rockwell is also an established manufacturer and
leader in delivering high-quality hemodialysis
concentrates/dialysates to dialysis providers and distributors in
the U.S. and abroad. As one of the two major suppliers in the U.S.,
Rockwell’s products are used to maintain human life by removing
toxins and replacing critical nutrients in the dialysis patient’s
bloodstream. Rockwell has three U.S. manufacturing/distribution
facilities.
Rockwell’s exclusive renal drug therapies
support disease management initiatives to improve the quality of
life and care of dialysis patients and are intended to deliver safe
and effective therapy, while decreasing drug administration costs
and improving patient convenience. Rockwell Medical is developing a
pipeline of drug therapies, including extensions of Triferic for
indications outside of hemodialysis. Please visit
www.rockwellmed.com for more information.
Certain statements in this press release
constitute "forward-looking statements" within the meaning of the
federal securities laws, including, but not limited to, Rockwell’s
intention to sell and market Calcitriol and Triferic. Words such as
“may,” “might,” “will,” “should,” “believe,” “expect,”
“anticipate,” “estimate,” “continue,” “predict,” “forecast,”
“project,” “plan”, “intend” or similar expressions, or statements
regarding intent, belief, or current expectations, are
forward-looking statements. While Rockwell Medical believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties,
including without limitation those set forth in Rockwell Medical’s
SEC filings. Thus, actual results could be materially different.
Rockwell Medical expressly disclaims any obligation to update or
alter statements whether as a result of new information, future
events or otherwise, except as required by law.
Important Additional Information and
Where to Find ItRockwell Medical, Inc. (the “Company”),
its directors and certain of its executive officers may be deemed
to be participants in the solicitation of proxies from the
Company’s shareholders in connection with the matters to be
considered at the 2017 Annual Meeting of Shareholders.
Information regarding the names and affiliations of individuals who
are participants in the solicitation of proxies of the Company’s
shareholders and their respective direct or indirect interests in
the Company, by security holdings or otherwise, can be found in the
Company’s definitive proxy statement for its 2017 Annual Meeting of
Shareholders, including the schedules and appendices thereto, which
was filed with the Securities and Exchange Commission (“SEC”) on
April 21, 2017. Investors and shareholders are
strongly encouraged to read carefully the definitive proxy
statement and the accompanying WHITE proxy card and any other
documents filed by Rockwell Medical, Inc. with the SEC when they
become available, as they will contain important
information. Shareholders can obtain the definitive
proxy statement, any amendments or supplements to the definitive
proxy statement, the accompanying WHITE proxy
card, and other documents filed by Rockwell Medical, Inc. with the
SEC for no charge at the SEC’s website at www.sec.gov. Copies
will also be available at no charge by writing to Rockwell Medical,
Inc., Attn: Secretary, 30142 S. Wixom Road, Wixom, Michigan,
48393. In addition, copies of the Company’s proxy materials
may be requested by contacting our proxy solicitor, D.F. King &
Co., Inc. 48 Wall Street New York, NY 10005 or by calling toll-free
1-800-884-4725. Triferic® is a registered trademark of Rockwell
Medical, Inc.
Contact:
Michael Rice
LifeSci Advisors, LLC
646-597-6979
Proxy Solicitor Contact:
Richard Grubaugh
D.F. King & Co.
212-269-5550 or 1-800-884-4725
Rockwell Medical (NASDAQ:RMTI)
Historical Stock Chart
From Apr 2024 to May 2024
Rockwell Medical (NASDAQ:RMTI)
Historical Stock Chart
From May 2023 to May 2024