Applied Genetic Technologies Corporation urges shareholders to deposit their shares by November 28, 2022

Applied Genetic Technologies Corporation urges shareholders to deposit their shares by November 28, 2022

Applied Genetic Technologies Society

GAINESVILLE, Fla. and CAMBRIDGE, Mass., Nov. 14, 2022 (GLOBE NEWSWIRE) — Applied Genetic Technologies Corporation (Nasdaq: AGTC), President and Chief Executive Officer, Sue Washer, sent the following letter to shareholders:

A portfolio company of Syncona Limited has launched a tender offer to purchase all of the outstanding common shares of AGTC at a price per share of $0.34 in cash, plus the right for shareholders to AGTC to receive additional total payments of up to $0.73 per share upon achievement of specified goals. milestones.


We invite you to tender your shares to the offer.

To bid, please contact your bank or broker, or follow the instructions you received previously by mail or e-mail from your bank or broker. You should act prior to the deadline indicated by your bank or broker but, in any case, prior to the expiration of the tender offer on November 28, 2022 at 5:00 p.m. EST.

Your bank or broker will not bring your AGTC shares
unless you ask them to.


AGTC’s Board of Directors has unanimously approved the transaction and recommends that shareholders accept the offer and tender their shares to the offer.
AGTC’s Board of Directors believes that the transaction represents an attractive offer that is in the best interest of AGTC shareholders.

If a majority of the outstanding AGTC shares are not tendered, AGTC’s Board of Directors believes that AGTC will have no choice but to pursue bankruptcy without certainty of value. for shareholders. It is therefore important that you tender your shares to the offer.

If you have any questions about the offer, please contact your bank or brokerage firm. You may also contact Georgeson LLC, the Information Agent for the Offer, at (800) 279-6913.

_________________________________________
Sue Washer, President and CEO
Applied Genetic Technologies Society
November 14, 2022

About AGTC

AGTC is a clinical-stage biotechnology company developing gene therapies for people with rare and debilitating ophthalmic, otological and central nervous system (CNS) diseases. AGTC designs and builds critical gene therapy building blocks and brings them together to develop personalized therapies that can address unmet patient needs. AGTC’s most advanced clinical programs in XLRP and ACHM CNGB3 leverage its technology platform to potentially improve vision in patients with inherited retinal diseases. Its preclinical programs leverage AAV’s manufacturing technology and AGTC’s scientific expertise. AGTC is advancing several pipeline candidates to address significant unmet clinical needs in optogenetics, otology and CNS disorders, and has entered into strategic collaborations with companies such as Bionic Sight, Inc., an innovator in the emerging field of optogenetics and retinal coding, and Otonomy, Inc., a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology.

Additional information and where to find it

A statement of tender offer on Schedule TO, including an offer to purchase, letter of transmittal and related documents, has been filed with the SEC by subsidiaries of Syncona Limited, and a statement of solicitation/recommendation on Schedule 14D-9 has been filed with the SEC. SEC by the Company. The offer to purchase common shares of the Company is being made pursuant to the offer to purchase, letter of transmittal and related documents filed on Schedule TO. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ BOTH THE PUBLIC OFFER STATEMENT AND THE SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME BECAUSE THEY CONTAIN IMPORTANT INFORMATION WHAT INVESTORS AND SECURITY HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING THE OFFERING OF THEIR COMMON SHARES, INCLUDING THE TERMS AND CONDITIONS OF THE PUBLIC OFFER. Investors and security holders may obtain a free copy of these statements and other documents filed with the SEC at the website operated by the SEC at www.sec.gov or by directing such requests to Georgeson LLC, Agent information for the offer, free of charge. at (800) 279-6913. Investors may also obtain, free of charge, documents filed with or furnished to the SEC by the Company in the “Investors” section of the Company’s website at www.AGTC.com.

Forward-looking statements

This communication contains forward-looking statements. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “will” and similar expressions. These forward-looking statements include, but are not limited to, statements relating to the anticipated completion of the acquisition of the Company, as well as the timing and benefits thereof, advance payments of contingent value rights and other statements that are not historical facts. These forward-looking statements are based on the Company’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements due to such risks and uncertainties, which include, but are not limited to, risks relating to the parties’ ability to complete the transaction on the terms and conditions offered. program; whether the conditions of the tender offer will be satisfied; if enough shareholders of the Company have tendered their shares to the transaction; the outcome of legal proceedings that may be brought against the Company and/or others in connection with the transaction; failure (or delay) to receive required regulatory approvals relating to the transaction; the possibility of competing offers being made; risks relating to product development and commercialization and demand for AGTC’s products (and, as such, the uncertainty that milestones for contingent value entitlement payments may not be met ); and other risks relating to the Company’s business detailed from time to time under “Risk Factors” and elsewhere in the Company’s filings and reports with the SEC, including its Annual Report on Form 10-K for fiscal year ended June 30, 2022 and subsequent quarterly and current reports filed with the SEC. The Company undertakes no duty or obligation to update any forward-looking statements contained in this communication as a result of new information, future events or changes in its expectations, except as required by law.

Applied Genetic Technologies Corporation Contacts:

IR contact:
David Carey
FINN Lazar Partners
Such. : (212) 867-1768
david.carey@finnpartners.com

Corporate Contact:
Jonathan dear
Financial director
Applied Genetic Technologies Society
Such. : (617) 843-5778
jlieber@agtc.com

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