Whetstone Capital Advisors Withdraws Board Nominees Following OptimizeRx Corporation (OPRX) Board Refreshment Plans
M.Cap: $79mm | OptimizeRx Corporation is a technology solutions company. The Company focuses on the healthcare industry. The Company connects patients, physicians and pharmaceutical manufacturers through technology.
Whetstone Capital Advisors
On March 6, 2025, Whetstone Capital Advisors (8.2%) provided written notice to the company of its intent to nominate each of Messrs. Andrew Carlson and John Fein for election to the Board at the 2025 annual meeting of stockholders. Source
On April 18, 2025, Whetstone Capital Advisors conditionally withdrew its notice to nominate two candidates for the 2025 annual meeting after discussions with the company, effective upon the company's announcement of plans to appoint a new independent director by the end of 2025, alongside other board refreshment and strategic initiatives. Source
Wolverine Asset Management
On March 6, 2017, Wolverine Asset Management disclosed a 7.3% stake and expressed concerns over the company's performance, urging the Board to form a strategic alternatives committee to explore selling a majority stake or the company outright, and to hire an investment bank for the process. On May 8, 2018, holding 7.7%, Wolverine praised the company's operational performance, highlighting a 91% revenue increase and a 210% stock price rise since February 2017. It recommended a strategic sale, citing potential revenue growth and risk resolution, including issues with operational scale and stock liquidity.
It stated its belief that the company could potentially be sold during 2018 for about $4.50 per share whereas its expected trading value will likely be capped at around $2.50 for the next two years.
On June 7, 2019, Wolverine Asset Management reduced its stake to 4.98%.
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