Atea: Driver Notifies Atea Pharmaceuticals of Withdrawal of Notice of Nomination

States Change in Board Composition Sorely NeededExpresses Support for Radoff-JEC Group NomineesSTAMFORD, Texas, March 31, 2025 (GLOBE NEWSWIRE) -- Driver Management Company LLC ("Driver") today delivered a letter to Atea Pharmaceuticals, Inc. ("Atea" or the "Company") withdrawing a notice of nomination delivered to the Company on March 19, 2025 in order not to compete against the highly qualified candidates nominated for election to the Company's board of directors (the "Board") by Bradley L. Radoff and Michael Torok (together with certain of their affiliates, the "Radoff-JEC Group"). In the letter, Driver expresses its view that change in the composition of the Board is sorely needed to ensure that potential strategic opportunities are evaluated based on what is best for Atea's stockholders, not its management or directors. In addition, Driver informed the Company that it would fully support the election of the Radoff-JEC Group's nominees at the Company's 2025 annual meeting of stockholders.A copy of Driver's letter is set forth below:* * *March 31, 2025Atea Pharmaceuticals, Inc.225 Franklin Street, Suite 2100Boston, MA 02110Attn: Andrea Corcoran, Chief Financial Officer, Executive Vice President, and SecretaryRe: Withdrawal of Notice of NominationDear Ms. Corcoran:As you are aware, by letter dated March 19, 2025, Driver Opportunity Partners III LP ("Driver") delivered a notice (the "Notice of Nomination") of its intention to nominate the undersigned for election to the board of directors (the "Board") of Atea Pharmaceuticals ...Full story available on Benzinga.com