Ted D. Kellner, Todd Deutsch, Robert L. Chioini and Paul W. Sweeney (the “Kellner Group”) have filed a definitive proxy statement (the “Proxy Statement”) and accompanying GOLD proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes for their election to the Board of Directors of AIM Immunotech Inc., a Delaware corporation (the “Company” or “AIM”), at the 2024 Annual Meeting of Stockholders scheduled to be held on December 17, 2024 (the “Annual Meeting”).
On December 13, 2024, the Kellner Group issued the press release that appears below and expects to distribute copies to stockholders by mail and electronically:
Kellner Group Urges Stockholders of AIM Immunotech to Vote Gold Card
Vote “FOR” All Four Kellner Group Nominees for Urgently Needed Change
Incumbent Board has Destroyed Stockholder Value and Imperiled AIM’s Future through Breaches of Fiduciary Duty and Bad Faith Actions
Stock Price has Declined by More than 99%, Clinical Strategy has Failed and AIM is on the Brink of Insolvency
Act Now to Save AIM Before it is Too Late – The Kellner Group Can Turn AIM Around and Finally Start Creating Value for Stockholders
Kellner Group Owns 5.04% of Outstanding Shares and is Fully Aligned with Stockholders
December 13, 2024
Dear AIM Stockholders:
Ted Kellner, as the nominating stockholder and a nominee, together with his other nominees, Todd Deutsch, Robert L. Chioini and Paul W. Sweeney (collectively, the “Kellner Group,” “we” or “us” and, as nominees, the “Kellner Group Nominees”), are issuing this open letter to stockholders regarding the 2024 Annual Meeting of Stockholders of AIM ImmunoTech Inc., a Delaware corporation (“AIM” or the “Company”), to solicit your vote to elect each of us to AIM’s Board.
We urge you to carefully read our proxy statement and our subsequent communications because they contain important information. Our proxy statement and our other communications are available at https://okapivote.com/AIM/.
Substantial and Immediate Overhaul of the AIM Board is Critical
The urgent need for drastic, immediate transformation within the AIM Board is indisputable. Each of the three leading independent proxy advisory firms have acknowledged this in recommending for the election of Mr. Kellner. Two of the three firms acknowledged that the incumbent Board cannot remain in control and recommended for the election of both Mr. Kellner and Mr. Sweeney and against Mr. Equels.1
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“There is no question that for shareholders to have any hope of not losing 100 percent of their investment, significant change is needed.” “Equels appears to be the most directly responsible for the company’s failings.”2 – ISS |
1 The third proxy firm, Glass Lewis, did not meet with us.
2 Permission to use quotations from ISS was neither sought nor obtained.