BioSante Pharmaceuticals, Inc. Sends Letter Urging Stockholders To Vote “FOR” Proposed Merger With ANI Pharmaceuticals, Inc.
Why merge with ANI?
ANI is led by a highly experienced management team focused on revenue growth and profitability. By commercializing a variety of branded and generic products, ANI reduces risk for the company and its stockholders. ANI owns two pharmaceutical manufacturing plants which enable management to control costs and compete more effectively. These plants have specialized capabilities which allow ANI to focus on developing niche products with fewer competitors.
Although other merger proposals were entertained by BioSante prior to entering into the merger agreement with ANI, the BioSante board of directors believes that the merger with ANI is the best option for BioSante stockholders.
Why did the BioSante board of directors adjourn the stockholders’ meeting to give stockholders more time to vote?Over 60% of BioSante’s shares weren’t voted at all on the merger. Since the average BioSante stockholder owns about 750 shares, every stockholder’s vote counts, including yours. Why should I bother to vote for the merger? You should vote in favor of the merger because it is the best alternative available for BioSante stockholders. You will retain a right to benefit from LibiGel®, both through contingent value rights (CVRs), and through your ownership in the merged company. At the same time, you will have an ownership interest in ANI. The BioSante board of directors has determined that the merger is in the best interests of the BioSante stockholders and unanimously recommends that BioSante stockholders vote “FOR” the merger. BioSante strongly encourages ALL stockholders to vote their shares for the merger by calling (800) 357-9167. Each BioSante stockholder’s vote is critical to the success of the merger whether the position be 100,000 shares or 100 shares. This call should take less than one minute. No confidential information will be required. The BioSante board of directors unanimously recommends that stockholders vote “FOR” the adoption of the merger agreement and all related matters being submitted to a vote of BioSante stockholders.
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