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Starboard Delivers Open Letter to Box Stockholders
May 17, 2021 GMT
NEW YORK, May 17, 2021 /PRNewswire/ Starboard Value LP (together with its affiliates, “Starboard”), one of the largest stockholders of Box, Inc. (“Box” or the “Company”) (NYSE: BOX), with an ownership interest of approximately 8% of the Company’s outstanding shares, today delivered an open letter to Box stockholders reiterating its significant concerns with the Company’s $500 million convertible preferred equity financing and the Board’s continued refusal to engage constructively with Starboard. In the letter, Starboard also disclosed its intention to submit a Books and Records request, pursuant to Section 220 of the Delaware General Corporation Law, to inspect books and records relating to the Company’s review of strategic options, including the financing and the proposed upcoming “Dutch auction”
Starboard Value LP: Starboard Delivers Open Letter to Box Stockholders
NEW YORK, May 17, 2021 /PRNewswire/ Starboard Value LP (together with its affiliates, Starboard ), one of the largest stockholders of Box, Inc. ( Box or the Company ) (NYSE: BOX), with an ownership interest of approximately 8% of the Company s outstanding shares, today delivered an open letter to Box stockholders reiterating its significant concerns with the Company s $500 million convertible preferred equity financing and the Board s continued refusal to engage constructively with Starboard. In the letter, Starboard also disclosed its intention to submit a Books and Records request, pursuant to Section 220 of the Delaware General Corporation Law, to inspect books and records relating to the Company s review of strategic options, including the financing and the proposed upcoming Dutch auction self-tender.