WaterMill Asset Management Releases Presentation Detailing the Case for Urgent Change Atop Ziopharm Oncology
WaterMill Asset Management Corp. (together with its affiliates, “WaterMill” or “we”), which collectively with the other participants in its consent solicitation beneficially owns approximately 3.3% of the outstanding shares of Ziopharm Oncology, Inc. (NASDAQ: ZIOP) (“Ziopharm” or the “Company”), today released a 55-page presentation that details the case for urgent change in the boardroom and summarizes its director candidates’ value-enhancing vision. As a reminder, WaterMill is seeking to reconstitute Ziopharm’s eight-member Board of Directors (the “Board”) by removing four incumbent directors and electing three highly-qualified and independent individuals: Robert Postma, Jaime Vieser and Holger Weis.
WaterMill encourages shareholders to consent to all of its proposals on the WHITE consent card. We urge shareholders to sign, date, and return each WHITE consent card they receive. Please visit www.FixZiopharm.com to download the slate’s presentation and learn how to consent.
Robert Postma, Principal and Founder of WaterMill, commented:
“As we continue to pursue meaningful change atop Ziopharm, we want shareholders to have a candid and comprehensive evaluation of the Company’s corporate governance, capital allocation decisions, financial positioning, and pipeline progress. Our 55-page presentation includes an array of irrefutable data points and facts pertaining to the incumbent Board’s anti-shareholder attitude, highly-concerning interconnectivity, and record of presiding over hundreds of millions of dollars in value destruction. Our presentation also underscores a sobering reality: Ziopharm’s diminishing cash position and rising burn rate appears to have put the Company on a path to financial ruin. Fortunately, we believe our three-member slate has the business acumen, capital allocation expertise, financing relationships, and commercial creativity required to stave off disaster and spark an enduring turnaround. We are prepared to act with urgency to help ensure Ziopharm has the right financing options, the right capital allocation framework, and the right commercialization opportunities to advance its science and finally deliver value for its shareholders.”
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