Liquidia Announces Results of Special Meeting of Stockholders

Stockholders Approve RareGen Acquisition

Merger Expected to Close on or About November 18, 2020

RESEARCH TRIANGLE PARK, N.C., Nov. 16, 2020 (GLOBE NEWSWIRE) -- Liquidia Technologies, Inc. (NASDAQ: LQDA), a late-stage clinical biopharmaceutical company focused on the development and commercialization of novel products using its proprietary PRINT technology, today announced that its stockholders voted to adopt and approve the previously announced merger agreement, dated as of June 29, 2020, among the Company, RareGen, LLC (“RareGen”), Liquidia Corporation (“Liquidia Corporation”), Gemini Merger Sub I, Inc. (“Liquidia Merger Sub”), Gemini Merger Sub II, LLC and PBM RG Holdings, LLC (the “Merger Agreement”), including the merger of the Company with and into Liquidia Merger Sub (the “Liquidia Merger”), with the Company and RareGen surviving as wholly owned subsidiaries of Liquidia Corporation post-merger, at a special meeting of stockholders held on November 13, 2020. In addition, Liquidia stockholders voted to approve all other matters related to the Merger Agreement and the Liquidia Merger.

At the close of business on September 14, 2020, the record date for the special meeting, there were 37,752,027 shares of Company common stock outstanding. Approximately 71 percent of the shares outstanding as of September 14, 2020 voted to adopt and approve the Merger Agreement. Further, among other proposals, stockholders voted to approve the Liquidia Corporation 2020 Long-Term Incentive Plan and the Liquidia Corporation 2020 Employee Stock Purchase Plan, both of which will be effective upon completion of the merger.

The closing of the merger transaction is expected to occur on or about November 18, 2020, subject to the satisfaction of the closing conditions set forth in the Merger Agreement.

About Liquidia
Liquidia is a late-stage clinical biopharmaceutical company focused on the development and commercialization of novel products using its proprietary PRINT technology to transform the lives of patients. PRINT is a particle engineering platform that enables precise production of uniform drug particles designed to improve the safety, efficacy and performance of a wide range of therapies. Currently, Liquidia is focused on the development of two product candidates for which it holds worldwide commercial rights: LIQ861 for the treatment of pulmonary arterial hypertension (PAH) and LIQ865 for the treatment of local post-operative pain. Liquidia is headquartered in Research Triangle Park, NC. For more information, please visit www.liquidia.com.