Latest news with #1Globe
Business Wire
15 hours ago
- Business
- Business Wire
Federal Court in Massachusetts Denies Vivo Capital's Petition for Relief on SINOVAC
BEIJING--(BUSINESS WIRE)--The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) (' SINOVAC ' or the ' Company '), a leading provider of biopharmaceutical products in China, today announced that on June 30, the United States District Court for the District of Massachusetts denied Vivo Capital's petition against 1Globe Capital LLC ('1Globe') for relief relating to SINOVAC's shareholder votes and corporate governance. In its ruling, the Court concluded, 'relief relating to governance outcomes or shareholder votes – are DENIED without prejudice.' The Massachusetts ruling marks the fourth unsuccessful legal attempt by either Advantech/Prime Success ('Advantech/Prime') or Vivo Capital (together 'the Dissenting Investor Group') to strip SINOVAC common shareholders of their rightful dividend payments. This result follows Advantech/Prime's recently failed petition in New York and Advantech/Prime and Vivo Capital's recently failed petition in Hong Kong – which were repeated attempts to block or delay a hearing for interim relief sought by the Company et al at the Antiguan High Court and to interfere with the Company's payment of the US$55.00 per common share special cash dividend declared by the current SINOVAC Board. The Dissenting Investor Group continues to interfere with the current Board's fiduciary duties to implement the UK Privy Council's unappealable ruling in January 2025. In this ruling, the UK Privy Council deemed the former illegitimate board an 'Imposter Board' and handed 1Globe – the investment arm of a cancer-focused global R&D group and SINOVAC's largest shareholder – a victory on all grounds. In addition, the UK Privy Council Judicial Committee, comprising five UK Supreme Court Justices, concluded that there was 'nothing unlawful in the conduct of 1Globe' in connection with SINOVAC's 2018 AGM. The Dissenting Investor Group's self-serving, multi-pronged lawfare strategy is crystal clear: (1) block actions taken by the SINOVAC Board to distribute rightful dividend payments to valid SINOVAC common shareholders; (2) protect the ill-gotten gains it stripped from SINOVAC subsidiaries over the past seven years; and (3) regain control of SINOVAC in order to continue to loot the Company. Having failed in the courtroom, the Dissenting Investor Group has decided to instead use deceptive and false stories to attack 1Globe and its founder Dr. Chiang Li, who chairs the current SINOVAC Board. As noted in SINOVAC's proxy materials, Dr. Li is an accomplished clinician, scientist, inventor, entrepreneur and a seasoned executive with international recognitions. Dr. Li and 1Globe have successfully challenged the Dissenting Investor Group's abuse in court for the past seven years and championed the rights and interests of all valid SINOVAC shareholders. During those seven years, The Dissenting Investor Group, in coordination with the former illegitimate board (the 'Imposter Former Board'), pursued the following schemes: Privatization attempt at a below-market price in 2016, which would have succeeded had it not been for the efforts of 1Globe (who declined an invite by the Former Management Buyout Group to join and profit from its privatization attempt); Invalid PIPE transaction at a below-market price in 2018, which materially diluted SINOVAC shareholders and was made at a time when the Company did not need the capital; Commitment by the Imposter Former Board to invest ~US$139 million of SINOVAC cash into a venture fund managed by Vivo Capital – creating a clear conflict of interest. This would be in addition to the approximately US$100 million SINOVAC has already invested into Vivo Capital funds. US$15 million debt investment into Sinovac Life Sciences Co., Ltd. ('SLS'), a wholly owned subsidiary of SINOVAC, in exchange for a 15% equity interest in SLS in 2020, at a time when the Company did not need the capital and which has resulted in over US$1 billion of distributions made to the Dissenting Investor Group. In contrast, SINOVAC common shareholders have received no dividends and haven't been able to trade their shares for the past six years. To add insult to injury, the Imposter Former Board publicly stated in April 2024 in the Company's 2023 20-F that it had 'no plan to pay any cash dividends on SINOVAC Antigua's shares in the foreseeable future'; Barrage of baseless and wasteful legal action in 2025, after refusing to accept the Privy Council's non-appealable ruling, with the goal of interfering with the dividend payment unless the Dissenting Investor Group is able to double dip on dividends already received from SLS; Deceptive and disparaging campaign against current SINOVAC board members that is meant to intimidate them and interfere with the stability and function of the current Board. The Dissenting Investor Group's hostile actions, baseless claims and wasteful litigation are evidence that it poses a direct threat to the value of your investment and the future of SINOVAC. Don't let the Dissenting Investor Group, which is working in coordination with SAIF and is represented on SAIF's Reconstituted Imposter Former Board, regain control of the Company. If the Reconstituted Imposter Former Board succeeds, it will put all valid shareholders' future dividend payments at risk – this includes the current Board's announced plans for an additional US$11.00 per common share cash dividend, contingent on the cancellation of the unauthorized PIPE shares, and its adopted policy to issue regular dividends out of surplus cash. The current SINOVAC Board remains committed to its mission of restoring fairness, delivering value, and protecting the rights of all valid shareholders. Your Vote is Important Your vote on or before July 8 will be about the future of SINOVAC, your receipt of your make-whole dividend payments in the near-term, and the long-term value of your investment. We urge you to keep SINOVAC's Board in place and vote on the WHITE proxy card ' AGAINST ' Proposal 1 to remove the current Board and ' AGAINST ' Proposal 2 to appoint the Reconstituted Imposter Former Board Slate. Your vote is critical to ensuring that SINOVAC remains on the path to stability, growth, and value creation for all shareholders. DISCARD any items you received asking you to vote for the Reconstituted Imposter Former Board Slate. If you have already voted for the Reconstituted Imposter Former Board Slate, you can subsequently revoke it by using the WHITE proxy card or WHITE voting instruction form to vote. Only your latest-dated vote will count! If you have questions about how your vote can be counted, please contact our proxy solicitor, Georgeson LLC, toll free at (844) 568-1506 in the U.S. and (646) 543-1968 outside the U.S. or via email at SinovacSpecialMeeting@ About SINOVAC Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&D, manufacturing, and commercialization of vaccines that protect against human infectious diseases. SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease, etc. The COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive®, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine under "Category 1 Preventative Biological Products" and commercialized in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella vaccine were prequalified by the WHO. SINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu®, to the Chinese government stockpiling program. SINOVAC continually dedicates itself to new vaccine R&D, with more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations. Important Additional Information and Where to Find It In connection with SINOVAC's Special Meeting, SINOVAC has filed with the U.S. Securities and Exchange Commission ('SEC') and mailed to shareholders of record entitled to vote at the Special Meeting a definitive proxy statement and other documents, including a WHITE proxy card. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and other interested parties will be able to obtain the documents free of charge at the SEC's website, or from SINOVAC at its website: You may also obtain copies of SINOVAC's definitive proxy statement and other documents, free of charge, by contacting SINOVAC's Investor Relations Department at ir@ Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to' or other similar expressions. Such statements are based upon current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's or Board's control, which may cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company and Board do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
Yahoo
21 hours ago
- Business
- Yahoo
United States District Court of Massachusetts Bars Activist 1Globe Capital and Jiaqiang Li From Making Further Materially Misleading Statements Regarding Sinovac
Court Found That 1Globe and Li Likely Violated Disclosure Obligations; Mandates Both File Updated Disclosures Within 5 Days of Order Decision Cites Prolonged Pattern of Corruption and Deception by 1Globe and Li Vivo Calls on All Shareholders to Support SAIF's Slate of Qualified Nominees, Reject 1Globe's Deception, and Stand Up for Transparent Corporate Governance Ahead of Special Meeting of Shareholders on July 8, 2025 PALO ALTO, Calif., July 02, 2025--(BUSINESS WIRE)--Vivo Capital ("Vivo" or "we"), a leading global investment firm focused exclusively on healthcare and life sciences and a long-term shareholder of Sinovac Biotech Ltd. (NASDAQ:SVA) ("Sinovac" or the "Company"), today announced that the United States District Court of Massachusetts ("the Court") granted Vivo's motion for a preliminary injunction against 1Globe Capital, LLC and its owner Jiaqiang "Chiang" Li (collectively, "1Globe"), barring 1Globe from making further materially misleading statements regarding their shareholding or intentions with respect to Sinovac and mandating that they file an amended and accurate Schedule 13D disclosing their beneficial ownership interests, control relationships, group affiliations, and plans and proposals relating to Sinovac. Effectively, the decision compels 1Globe to "come clean" after years of deliberately circumventing proper disclosure laws to mislead other shareholders of their true ownership position and intentions regarding their investment in Sinovac. As Vivo demonstrated to Judge Myong J. Joun by a substantial likelihood, 1Globe failed to provide disclosures mandated by federal securities laws while they clandestinely formed a group with ally OrbiMed, took control of Sinovac's Board of Directors, carried out plans and proposals to weaken the corporate governance and business of Sinovac, and attempted to enrich themselves at the expense of all shareholders, including by attempting to illegally disenfranchise Vivo and certain other shareholders. Judge Joun cited multiple examples of 1Globe's coordinated activities that formed the background of their repeated disclosure violations, including: Mr. Li involved three relatives to discreetly build positions in Sinovac, later used to the activists' advantage in the 2018 Annual General Meeting for Shareholders ("AGM"); the relatives' stock positions and relations to Mr. Li were not publicly disclosed. In the lead-up to the 2018 AGM, and during 1Globe's legal battle against the Company, 1Globe failed to make any Sinovac-related disclosures until after the shareholder vote occurred. 1Globe and its allies were found by both the High Court of Hong Kong and a regulator from the People's Republic of China to have forged documents on separate occasions in 2018 and 2020, respectfully, to unlawfully change the directors of Sinovac subsidiaries. This decision affirms Vivo's efforts to restore transparent corporate governance at Sinovac. Given the precedent set by 1Globe, Vivo believes they, along with OrbiMed, will continue their attempts to harm and disenfranchise shareholders until and unless the Board is reconstituted. Vivo has remained steadfast in its mission to restore trust in the Company's governance, and ultimately, in the Company's ability to resume trading and return cash to shareholders, despite 1Globe's attempts to illegally exclude Vivo from exercising our lawful right to vote at the upcoming Special Meeting of Shareholders to be held on Wednesday, July 9, 2025 at 8:00 a.m. China Standard Time (Tuesday, July 8, 2025 at 8:00 p.m. Atlantic Standard Time). Vivo echoes the calls by other long-term shareholders, such as SAIF Partners and Prime Success, to remove the current Board, controlled by 1Globe, and vote the GOLD card in favor of SAIF Partners' qualified candidates, and to discard the Company's white card. If the new Board is elected, Vivo believes they will restore proper governance, a critical step to enable the Company to (i) retain a new auditor, (ii) accelerate the implementation of a legitimate, audited, and realistic dividend plan maximizing all shareholders' returns, (iii) get back on track towards restoring trading on the NASDAQ, and (iv) end all cost-consuming shareholder disputes. About Vivo Capital Founded in 1996, Vivo Capital is a leading global healthcare investment firm with a diverse, multi-fund investment platform spanning venture capital, growth equity, buyout, and public equities. The Firm has approximately $5.3 billion in regulatory assets under management and has invested in over 430 public and private companies globally. Headquartered in Palo Alto, California, the Vivo team consists of more than 75 multi-disciplinary professionals. Vivo invests broadly in healthcare across multiple sub-sectors, including biotechnology, pharmaceuticals, medical devices, and healthcare services, with a focus on the largest healthcare markets globally. View source version on Contacts MediaPro-Vivo@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
United States District Court of Massachusetts Bars Activist 1Globe Capital and Jiaqiang Li From Making Further Materially Misleading Statements Regarding Sinovac
PALO ALTO, Calif.--(BUSINESS WIRE)--Vivo Capital ('Vivo' or 'we'), a leading global investment firm focused exclusively on healthcare and life sciences and a long-term shareholder of Sinovac Biotech Ltd. (NASDAQ:SVA) ('Sinovac' or the 'Company'), today announced that the United States District Court of Massachusetts ('the Court') granted Vivo's motion for a preliminary injunction against 1Globe Capital, LLC and its owner Jiaqiang 'Chiang' Li (collectively, '1Globe'), barring 1Globe from making further materially misleading statements regarding their shareholding or intentions with respect to Sinovac and mandating that they file an amended and accurate Schedule 13D disclosing their beneficial ownership interests, control relationships, group affiliations, and plans and proposals relating to Sinovac. Effectively, the decision compels 1Globe to 'come clean' after years of deliberately circumventing proper disclosure laws to mislead other shareholders of their true ownership position and intentions regarding their investment in Sinovac. As Vivo demonstrated to Judge Myong J. Joun by a substantial likelihood, 1Globe failed to provide disclosures mandated by federal securities laws while they clandestinely formed a group with ally OrbiMed, took control of Sinovac's Board of Directors, carried out plans and proposals to weaken the corporate governance and business of Sinovac, and attempted to enrich themselves at the expense of all shareholders, including by attempting to illegally disenfranchise Vivo and certain other shareholders. Judge Joun cited multiple examples of 1Globe's coordinated activities that formed the background of their repeated disclosure violations, including: Mr. Li involved three relatives to discreetly build positions in Sinovac, later used to the activists' advantage in the 2018 Annual General Meeting for Shareholders ('AGM'); the relatives' stock positions and relations to Mr. Li were not publicly disclosed. In the lead-up to the 2018 AGM, and during 1Globe's legal battle against the Company, 1Globe failed to make any Sinovac-related disclosures until after the shareholder vote occurred. 1Globe and its allies were found by both the High Court of Hong Kong and a regulator from the People's Republic of China to have forged documents on separate occasions in 2018 and 2020, respectfully, to unlawfully change the directors of Sinovac subsidiaries. This decision affirms Vivo's efforts to restore transparent corporate governance at Sinovac. Given the precedent set by 1Globe, Vivo believes they, along with OrbiMed, will continue their attempts to harm and disenfranchise shareholders until and unless the Board is reconstituted. Vivo has remained steadfast in its mission to restore trust in the Company's governance, and ultimately, in the Company's ability to resume trading and return cash to shareholders, despite 1Globe's attempts to illegally exclude Vivo from exercising our lawful right to vote at the upcoming Special Meeting of Shareholders to be held on Wednesday, July 9, 2025 at 8:00 a.m. China Standard Time (Tuesday, July 8, 2025 at 8:00 p.m. Atlantic Standard Time). Vivo echoes the calls by other long-term shareholders, such as SAIF Partners and Prime Success, to remove the current Board, controlled by 1Globe, and vote the GOLD card in favor of SAIF Partners' qualified candidates, and to discard the Company's white card. If the new Board is elected, Vivo believes they will restore proper governance, a critical step to enable the Company to (i) retain a new auditor, (ii) accelerate the implementation of a legitimate, audited, and realistic dividend plan maximizing all shareholders' returns, (iii) get back on track towards restoring trading on the NASDAQ, and (iv) end all cost-consuming shareholder disputes. About Vivo Capital Founded in 1996, Vivo Capital is a leading global healthcare investment firm with a diverse, multi-fund investment platform spanning venture capital, growth equity, buyout, and public equities. The Firm has approximately $5.3 billion in regulatory assets under management and has invested in over 430 public and private companies globally. Headquartered in Palo Alto, California, the Vivo team consists of more than 75 multi-disciplinary professionals. Vivo invests broadly in healthcare across multiple sub-sectors, including biotechnology, pharmaceuticals, medical devices, and healthcare services, with a focus on the largest healthcare markets globally.
Yahoo
23-06-2025
- Business
- Yahoo
Prime Success Issues Statement on New York State Court Decision Confirming Our Rights as Sinovac Shareholders – Including Right to Vote at Upcoming Special Meeting
Corrects the Record Following Latest Attempt By the 1Globe Activist Board to Distort Reality in Transparent Attempt to Mislead Shareholders Notes That on Friday Antiguan Judge Denied the 1Globe Activist Board's Attempt to Immediately Prevent Prime Success From Voting Sinovac Shares – Which the Board Failed to Disclose to Shareholders HONG KONG, June 22, 2025--(BUSINESS WIRE)--Prime Success L.P., (together with its affiliates, "Prime Success" or "we"), a significant shareholder of Sinovac Biotech Ltd. (NASDAQ: SVA) ("Sinovac" or the "Company") with ownership of approximately 8% of the Company's outstanding shares, today issued a statement in response to the decision by the United States District Court for the Southern District of New York on Friday, June 20, 2025. Prime Success stated: "The New York court ruling confirms what we have consistently stated: Prime Success has been a major owner of registered, valid shares of Sinovac for seven years and it has undisputed rights as such – including the right to vote with other shareholders to boot 1Globe and OrbiMed out of power. We requested an injunction in self-defense in response to the litigation initiated by the 1Globe Activist Board to prevent us from voting our shares. The 1Globe Activist Board also threatened to resort to self-help measures to keep us from voting. The court's decision was based on the premises that the 1Globe Activist Board currently has no basis to deny our rights as shareholders and that the dispute is currently in arbitration in Hong Kong, and unless those change no injunctive relief is required. The court expects the 1Globe Activist Board to act lawfully and not deprive us of our shareholder rights, and for the Antiguan court to uphold the obligation to send appropriate matters to arbitration, as required by treaty obligations. Importantly, this is why the ruling was without prejudice – we have the right to go back to the New York court if at any point the 1Globe Activist Board refuses to recognize our clear legal status as voting shareholders. Also on Friday in a separate hearing in Antigua, the court rejected the 1Globe Activist Board's attempt to invalidate the shares Prime Success and Vivo legally acquired from their PIPE investment – an $86 million equity investment made to support SINOVAC when it was in dire need of capital. There will now be a subsequent hearing at the end of June to decide the appropriate next step on this case – which we continue to believe is mandatory arbitration in the Hong Kong International Arbitration Centre ("HKIAC") under Hong Kong law. Tellingly, the 1Globe Activist Board declined to disclose this development to shareholders in its June 21 press release – likely because it was not favorable to them. Shareholders should realize at this stage that the alarming public statements issued by the 1Globe Activist Board are self-serving distortions of reality. Their characterizations are inaccurate, and especially their claim that Prime Success tried "to interfere with the payment of the US$55.00 per common share special cash dividend declared by the current SINOVAC Board." Prime Success has been demanding the distribution of dividends and never tried to block it. Importantly, Prime Success reminds shareholders of the following: We support the fair distribution of dividends as soon as possible to all SINOVAC shareholders – the delay in dividend payments resulted from actions taken by the 1Globe Activist Board. The fact is that the SAIF slate's highly qualified nominees are better-suited to continue paying dividends and achieve a resumption of trading as soon as possible. Without Prime Success and Vivo's PIPE investment, Sinovac's core success would not have been possible. Our investment was a critical turning point for Sinovac, allowing for the distribution of all COVID vaccine doses, providing crucial medical treatment and putting Sinovac on a path to significant long-term growth, and came at a time when other funding options were not available to the Company. The 1Globe Activist Board cannot be trusted to act in the best interests of Sinovac or its shareholders. Shareholders deserve a refreshed, forward-looking Board committed to sound governance, ending wasteful litigation, recruiting a new auditor, and getting Sinovac's NASDAQ trading halt lifted. To date, the 1Globe Activist Board has not communicated any concrete intention or documented any steps taken to resume share trading on NASDAQ as soon as possible. Prime Success is directly aligned with shareholders and believes that the slate of directors proposed by SAIF Partners IV L.P., ("SAIF Partners") is essential for a renewed focus on durable value creation that will pave the way for Sinovac to move forward – ending the toxic pattern of infighting and litigation instigated by the 1Globe Activist Board. Your vote at the Special Meeting can make this important change happen. We urge all shareholders vote the GOLD proxy card in support of the SAIF nominees and choose the leadership that will best secure our Company's success in the years to come." About Prime Success, L.P. Prime Success is an investment vehicle established by Advantech Capital specifically to invest in Sinovac and Sinovac Life Sciences; Advantech Capital is a private equity fund established in 2016 with a focus on innovation-driven growth opportunities in China. View source version on Contacts Media Contact Longacre Square Partnersadvantech@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
22-06-2025
- Business
- Associated Press
Prime Success Issues Statement on New York State Court Decision Confirming Our Rights as Sinovac Shareholders – Including Right to Vote at Upcoming Special Meeting
HONG KONG--(BUSINESS WIRE)--Jun 21, 2025-- Prime Success L.P., (together with its affiliates, 'Prime Success' or 'we'), a significant shareholder of Sinovac Biotech Ltd. (NASDAQ: SVA) ('Sinovac' or the 'Company') with ownership of approximately 8% of the Company's outstanding shares, today issued a statement in response to the decision by the United States District Court for the Southern District of New York on Friday, June 20, 2025. Prime Success stated: 'The New York court ruling confirms what we have consistently stated: Prime Success has been a major owner of registered, valid shares of Sinovac for seven years and it has undisputed rights as such – including the right to vote with other shareholders to boot 1Globe and OrbiMed out of power. We requested an injunction in self-defense in response to the litigation initiated by the 1Globe Activist Board to prevent us from voting our shares. The 1Globe Activist Board also threatened to resort to self-help measures to keep us from voting. The court's decision was based on the premises that the 1Globe Activist Board currently has no basis to deny our rights as shareholders and that the dispute is currently in arbitration in Hong Kong, and unless those change no injunctive relief is required. The court expects the 1Globe Activist Board to act lawfully and not deprive us of our shareholder rights, and for the Antiguan court to uphold the obligation to send appropriate matters to arbitration, as required by treaty obligations. Importantly, this is why the ruling was without prejudice – we have the right to go back to the New York court if at any point the 1Globe Activist Board refuses to recognize our clear legal status as voting shareholders. Also on Friday in a separate hearing in Antigua, the court rejected the 1Globe Activist Board's attempt to invalidate the shares Prime Success and Vivo legally acquired from their PIPE investment – an $86 million equity investment made to support SINOVAC when it was in dire need of capital. There will now be a subsequent hearing at the end of June to decide the appropriate next step on this case – which we continue to believe is mandatory arbitration in the Hong Kong International Arbitration Centre ('HKIAC') under Hong Kong law. Tellingly, the 1Globe Activist Board declined to disclose this development to shareholders in its June 21 press release – likely because it was not favorable to them. Shareholders should realize at this stage that the alarming public statements issued by the 1Globe Activist Board are self-serving distortions of reality. Their characterizations are inaccurate, and especially their claim that Prime Success tried 'to interfere with the payment of the US$55.00 per common share special cash dividend declared by the current SINOVAC Board.' Prime Success has been demanding the distribution of dividends and never tried to block it. Importantly, Prime Success reminds shareholders of the following: Prime Success is directly aligned with shareholders and believes that the slate of directors proposed by SAIF Partners IV L.P., ('SAIF Partners') is essential for a renewed focus on durable value creation that will pave the way for Sinovac to move forward – ending the toxic pattern of infighting and litigation instigated by the 1Globe Activist Board. Your vote at the Special Meeting can make this important change happen. We urge all shareholders vote the GOLD proxy card in support of the SAIF nominees and choose the leadership that will best secure our Company's success in the years to come.' About Prime Success, L.P. Prime Success is an investment vehicle established by Advantech Capital specifically to invest in Sinovac and Sinovac Life Sciences; Advantech Capital is a private equity fund established in 2016 with a focus on innovation-driven growth opportunities in China. View source version on CONTACT: Media Contact Longacre Square Partners [email protected] KEYWORD: ASIA PACIFIC HONG KONG INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH INFECTIOUS DISEASES FINANCE PHARMACEUTICAL BIOTECHNOLOGY SOURCE: Prime Success L.P. Copyright Business Wire 2025. PUB: 06/21/2025 09:20 PM/DISC: 06/21/2025 09:21 PM
