India, June 26 -- Doma Perpetual Capital Management LLC issued a letter to the InMode Ltd.(INMD) Board on Friday, expressing its strong opposition to an acquisition proposal from the Chief Executive Officer of InMode in partnership with a group of investors.
Pedro Escudero, CEO and CIO of Doma, in an open letter, claimed that together with its affiliates, they beneficially own approximately 4.63% of the outstanding ordinary shares of InMode.
Doma has clarified that $16.20 per share offer undervalues InMode and its long-term potential therefore it plans to vote against the transaction. The offer exploits the depressed valuations created by years of CEO-led underperformance.
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