Pacira BioSciences, Inc.
PCRXReporting person: DOMA Perpetual Capital Management LLC(fund)
DOMA Perpetual nominates three directors to Pacira board; seeks CEO replacement and sale process
Primary demands
- replace CEO Frank Lee immediately
- appoint interim CEO
- conduct formal sale process
- improve board financial controls and sophistication
- enhance management oversight
- review strategic decisions and company strategy
- discontinue future pipeline acquisitions
- return capital to shareholders
No advisor data on record for this deal.
DOMA Perpetual Capital Management LLC, which beneficially owns approximately 7.3% of Pacira BioSciences, has nominated three director candidates (Christopher Dennis, Oliver Benton Curtis III, and Eric de Armas) and is soliciting proxies via universal proxy card. DOMA's primary demands include the immediate replacement of CEO Frank Lee, appointment of an interim CEO, and initiation of a formal sale process of the company. The activist asserts the board has failed in oversight and management compensation is unsustainable at approximately 7% of market capitalization.