ACTION REQUEST FOR PROXY VOTE
November 4, 2022
Dear Acorda Stockholder,
I am writing to let you know that Acorda adjourned its Special Meeting of Stockholders and will reconvene the Meeting on November 11, 2022 at 9:00
a.m., Eastern Time, to allow stockholders additional time to vote on Proposal 2, authorizing the Board to implement a reverse stock split, if needed to prevent delisting of the Company’s shares from the Nasdaq stock market. This proposal
currently has 49.53% of outstanding shares voting “FOR,” which is more than twice the shares voting against. However, the Proposal requires just over 50% of the outstanding shares, rather than a majority of the voted shares, to pass.
If you have already voted FOR Proposal 2, no action is required, and thank you for your support. If you have not yet voted, please vote now!
Please consider that after addressing numerous challenges since the loss of patent exclusivity on our MS drug, Ampyra, in late 2018, the Company
has recently delivered highly positive news, including:
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A substantial arbitration award of $16.5M and the ability to obtain alternative Ampyra drug supply, which we
estimate will save the Company $10-$12M in 2023 alone. |
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Q3 2022 results that included a 104% increase in Inbrija US revenue since a substantially depressed Q1, Inbrija
launch in Germany in June 2022 and a launch in Spain expected in Q1 2023.Inbrija is improving symptoms for thousands of people with Parkinson’s disease. |
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Publication in October 2022 of a detailed long-term financial projection and business plan to rebuild stockholder
value through 2027. |
However, a delisting from Nasdaq could result in a default on the Company’s debt
obligations, which would make it very difficult to build on this progress and execute our long-term business plan.
Your vote is
critical no matter how many shares you held as of the record date of September 9, 2022.
Please vote today by following one of the expedited means outlined below.
The Special Meeting will reconvene on November 11, 2022 at the Company’s offices located at Two Blue Hill Plaza, 3rd Floor, Pearl River, New York 10965 to approve Proposal 2.
On behalf of your Board of
Directors, thank you for your continued support of Acorda Therapeutics