GTC Biotherapeutics (fka GTCB)

[DewDiligence]

>I don't see how this is essential to the survival of the company. I encourage all fellow shareholders to vote against [proposal] #2.<

If you read the SEC filing more carefully, you’ll see that the LFB financing cannot go forward without a Yes vote on both Proposal #1 and Proposal #2.

GTC asserts that LFB is insisting on passage of Proposal #2 as a prerequisite for the $15M loan in order to assure that GTC’s management talent (such as it is) does not walk.

Whether you think the stated motivation for Proposal #2 rings true (IMO, it doesn’t) is immaterial from a practical standpoint; the salient point is that if you want the LFB financing to be implemented, you have to vote Yes on both #1 and #2.