- Tikvah Management opposes Quanterix's (QTRX, Financial) $30 million convertible notes purchase from Akoya Biosciences (AKYA).
- Concerns include Akoya's financial distress, timing before shareholder vote, and unfavorable terms for Quanterix shareholders.
- Tikvah plans to vote against the proposed Quanterix-Akoya merger.
Tikvah Management LLC, which owns approximately 1.5% of Quanterix Corp. (QTRX), has raised substantial concerns regarding Quanterix's recent agreement to purchase up to $30 million in convertible notes from Akoya Biosciences (AKYA). This move has prompted Tikvah to request a detailed explanation from Quanterix.
According to a statement by Tikvah, the need for bridge financing by Akoya suggests potential financial distress. Additionally, Tikvah highlights that the timing of the capital commitment precedes the shareholder vote on the proposed Quanterix-Akoya merger, which it deems questionable. Furthermore, the terms of these convertible notes are perceived as significantly unfavorable to Quanterix shareholders.
Tikvah has reaffirmed its intention to vote against the proposed merger between Quanterix and Akoya at the upcoming Special Meeting. However, it retains the right to alter its stance should there be new developments.
For more details, visit the official website of Tikvah Management LLC.
