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  "documentTitle": "Outerbridge Comtech Presentation November 2021",
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  "presentationDate": "2021-11-01 00:00:00",
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  "notes": "The slide uses a timeline chart to highlight the proximity of the PIPE transaction events to the Acacia offer.",
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      "text": "The timing of the PIPE transaction relative to the record date and proxy filing, coupled with what appears to have been a non-comprehensive market check, suggests that the Board may have been more concerned with closing the transaction prior to the 2021 Annual Meeting, than securing the best terms for shareholders",
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      "text": "Outerbridge and other large shareholders were not contacted regarding participation in any additional share or rights offering. Outerbridge knows first-hand that multiple potentially interested parties were not contacted as part of a market check by Comtech's financial advisor or Comtech leadership. The transaction closed on October 19, 2021, which was then suspiciously designated as the record date determining vote eligibility for the 2021 Annual Meeting. On October 29, 2021, just 11 days following the announcement of the PIPE transaction, a third party, Acacia Research Corporation, submitted a private proposal to acquire the Company for $30 per share representing a 41.1% premium to the October 28 close price of $21.26. Comtech filed its preliminary proxy on October 29, 2021 as well.",
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      "text": "Source: Company filings",
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      "text": "The Board did Not Perform a Robust Market Check",
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      "text": "Comtech Appears to Have Placed Entrenchment Interests Ahead of Due Diligence",
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