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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 list of grievances to build a case for board replacement.",
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      "kind": "callout",
      "text": "Vote FOR Change by voting FOR the election of Wendi Carpenter and Sidney Fuchs on the WHITE Proxy Card to Ensure the Board Maximizes Shareholder Value",
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      "text": "Comtech shareholders have suffered under the current Management team and a hand-picked Board with little to no relevant industry and public board experience\nTotal Shareholder Return has lagged peer median and benchmark indices over 1-year, 3-year, 5-year and 10-year periods\nManagement and the Board have destroyed over $700M of shareholder value resulting in loss of investor confidence\nLack of Management's credibility is reflected in eight consecutive quarters of negative share price reaction to earnings announcements\nOuterbridge attempted to engage with the Board with the hopes of creating a constructive dialogue, but our overtures were met with delays and obfuscation\nComtech's hand-picked directors approved a dilutive vote-buying PIPE transaction without conducting proper diligence regarding the strategic merits or the cost of the transaction\nShareholders need truly independent directors with experience in Comtech's end-markets and M&A to develop a credible plan for growth, to ensure that the Company does not waste the $100M of funds raised through the PIPE, and to objectively evaluate the $30/share Acacia offer\nComtech Nominees are highly conflicted and cannot be trusted with making critical M&A decisions or to unlock value through a strategic review of the business; failure to do so can expose shareholders to significant downside risk, as the Acacia offer represents a 39% premium to Comtech's unaffected share price\nOuterbridge Nominees possess the core expertise and board experience necessary to both successfully navigate a strategic review and guide the Company as a standalone entity in order to optimize value for shareholders",
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      "text": "Shareholders Must Act Now",
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