Open Letter to MannKind Shareholders
This is for all MNKD shareholders. We encourage you to read both documents, and we apologize in advance for their length. We believe shareholders need, and are entitled to, this level of detail. May this be a conversation-starter...
Read this first - Open Letter to MannKind Shareholders
Read this second - Proposal to MannKind
Thanks for the many expressions of support.
We have created a page here where investors can submit information.
Bill McCullough, CEO
UPDATE: June 28, 2019
To: All MannKind Shareholders
RE: Activist Shareholder Stake
On June 14, 2019, Vdex Diabetes published an Open Letter to MannKind Shareholders advocating strategic changes in certain company initiatives, such as the marketing of Afrezza, and the remuneration of executives and rank and file employees. The point was to seek greater alignment between management and shareholders so as to help drive the success of Afrezza. The letter included a response mechanism for those supporting the effort. To date, we can announce that shareholders representing a total of between approximately 10 – 15 million shares, or about 5% - 8% of the shares outstanding have been pledged in support of this effort.
We ask that you encourage others to read that letter, which is available above, and support this effort if you find yourself in substantial agreement with its points. We are looking to collaborate in this effort with key influencers to help foster the desired changes. Once this group of shareholders reaches the threshold of 10% of the shares outstanding, we will have more legal leverage to pursue change. We are developing a website for further communications about this effort which you can expect to receive information about shortly.