Investor Group reaches agreement with Pasithea Therapeutics (KTTA)

Key Summary: In 2022, Camac Partners and Leonite Capital (5.8%) launched an activist campaign at Pasithea, citing poor stock performance, governance issues, and dilutive acquisitions. They sought to remove directors, called a special meeting, filed multiple proxy materials, and sued the board. On December 9, 2022, a settlement was reached: Pasithea repurchased their shares at $1.0003/share, the group agreed to a three-year standstill, and litigation was dismissed.