Sesen Bio Inc (SESN)

[Dodgeball]

Unfortunately, Cannell has a reputation as a serial diluter that precedes him.

Since the proposed increase to the number of authorized shares of common stock will not affect the number of shares outstanding, it will not by itself have a dilutive effect on the Company’s current stockholders.

But everyone knows what Cannell does when he gets his hands on shares. He's been frustrating shareholders for years by diluting into every significant milestone. So now, fully cognizant that he has eroded in shareholder trust, he hires not one, but two "independent proxy advisory firms" to twist arms on a "For" vote for the share increase. Agree that 200 million shares in Cannell's hands is far too many, especially without a clear plan on how he plans to use them, how he intendeds to minimize dilution, when he intends to look at non-dilutive financing, and what restrictions he would place on employee bonus shares. 30-50 million seems a much more realistic number.