Hitachi Chemical Co. America, Ltd. to Acquire 100% of PCT - A Transformative Event for PCT and Hitachi Chemical
Robert A. Preti, PhD, Chief Executive Officer and President, Hitachi Chemical Advanced Therapeutics Solutions | March 16, 2017
We are pleased today to announce a significant upcoming transformation for our company and enhancements to our capabilities to serve our valued clients. Hitachi Chemical Co. America, Ltd. (Hitachi Chemical), our collaborator and currently minority owner of PCT, has entered into an agreement with Caladrius Biosciences, majority owner of PCT, to purchase Caladrius’ remaining share of PCT, with an expected closing of the transaction in May 2017, subject to, among other closing conditions, Caladrius shareholder approval. I have included links to the press releases by Hitachi Chemical and by Caladrius Biosciences.
As always, our clients remain our primary focus! Through this transaction, should it consummate, you can expect from PCT continuity of service, stabilized operations, further development of our capacity, capabilities and service offerings, and participation in a global CDMO network. Our core business and its commitment to the cell therapy industry remains steadfast.
You may have questions and we look forward to hearing from you. Please feel free to reach out to us at your convenience. In the meantime, we will be keeping you apprised as the transaction proceeds. Our relationship with our clients does not change based on this announcement, nor will it change based on the finalization of this transaction.
To our clients, thank you for your business and for the trust you have placed in PCT. To those who are not yet our clients, we welcome the opportunity to speak with you about PCT. There are great things in store for PCT and in our ability to serve you.
Additional Information About the Transaction and Where to Find it
Caladrius intends to file with the Securities and Exchange Commission (“SEC”) and mail to its stockholders a proxy statement in connection with, among other things, the sale to Hitachi Chemical Co. America, Ltd. (“Purchaser”) of the 80.1% membership interest in PCT that Purchaser does not already own (the “Sale”). Investors and stockholders of Caladrius are urged to read the proxy statement and the other relevant materials when they become available because they will contain important information about Caladrius and the Sale. The proxy statement and other relevant materials (when they become available), and any other documents filed by Caladrius with the SEC, may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, investors and stockholders may obtain free copies of the documents filed with the SEC by Caladrius by directing such requests to Caladrius Biosciences, Inc., 420 Lexington Avenue, Suite 350, New York, NY 10170, Attn: Jacquelyn Briggs or [email protected], Telephone: (646) 606-2221.
Participants in the Solicitation
Caladrius and its directors and executive officers may, under SEC rules, be deemed to be participants in the solicitation of proxies from Caladrius’ stockholders in connection with the Sale. Information regarding Caladrius’ directors and executive officers is contained in Caladrius’ proxy statement on Schedule 14A filed with the SEC on May 10, 2016. Additional information regarding the participants in the solicitation of proxies in respect of the Sale and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement when it becomes available.
Safe Harbor for Forward Looking Statements
This webpage contains forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995, including forward-looking statements regarding the Sale, the possibility of obtaining stockholder or other approvals or consents for the Sale and Caladrius’ future prospects. These statements are neither promises nor guarantees, but involve risks and uncertainties that could cause actual events or results to differ materially from those set forth in the forward-looking statements, including, without limitation: risks and uncertainties relating to potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Sale; unexpected costs, charges or expenses relating to or resulting from the Sale; litigation or adverse judgments relating to the Sale; risks relating to the completion of the proposed Sale, including the risk that the required stockholder vote might not be obtained in a timely manner or at all, or other conditions to the completion of the Sale not being satisfied; any difficulties associated with requests or directions from governmental authorities resulting from their review of the Sale; any changes in general economic and/or industry-specific conditions; and other risks detailed in Caladrius’ filings with the SEC, including those disclosed under “Item 1A. Risk Factors” in Caladrius’ Annual Report on Form 10-K filed with the SEC on March 17, 2017 and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this webpage’s publication. Caladrius does not intend, and disclaims any obligation, to update or revise any forward-looking information contained in this webpage or with respect to the matters described herein.
Robert A. Preti, PhD, Chief Executive Officer and President, Hitachi Chemical Advanced Therapeutics SolutionsRobert “Bob” Preti is the co-founder of Hitachi Chemical Advanced Therapeutics Solutions ("HCATS", formerly PCT) and the visionary behind its successful growth and development strategy over much of the last two decades.
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