La Jolla Pharmaceutical Company Announces the Adjournment of Special Meeting
SAN DIEGO -- March 01, 2010
La Jolla Pharmaceutical Company (NASDAQ: LJPC) today announced that its
Special Meeting of Stockholders, which was initially convened on February 26,
2010, was adjourned to March 2, 2010 at 3:00 p.m., local time, at 4365
Executive Drive, Suite 300, San Diego, California. As described in the joint
proxy statement/prospectus distributed to stockholders on or about February
12, 2010, the stockholders of La Jolla are being asked to vote on proposals
related to its proposed merger with Adamis Pharmaceuticals Corporation (OTCBB:
Holders of only twelve percent (12%) of La Jolla’s outstanding common stock
returned their proxy cards or otherwise indicated their votes with respect to
these proposals prior to the start of the stockholders’ meeting. The votes
cast as of the meeting date overwhelmingly supported the merger proposals,
including the reverse stock split. Separately, Adamis announced today that its
stockholders approved the proposed merger transaction.
There is no guarantee that we will be able to further adjourn and reconvene
the meeting to solicit additional votes. If La Jolla is delisted from Nasdaq
before the special stockholders’ meeting, La Jolla expects that it would need
Adamis’ consent and additional regulatory approvals to continue soliciting
proxies resulting in significant additional costs and time delays. Such
consents and approvals are difficult to obtain and may not be obtained at all.
Holders of more than 50% of La Jolla’s 65 million shares outstanding must vote
in order to hold the meeting. For the merger to be completed, holders of more
than 50% of La Jolla’s shares must vote in favor. Only stockholders who held
La Jolla stock on January 22, 2010 are eligible to vote.
If You Haven’t Received Your Voting Materials – please vote by contacting our
proxy vote solicitor, Mackenzie Partners, Inc. as follows:
e-mail at firstname.lastname@example.org
call toll free at (800) 322-2885
call collect at (212) 929-5500.
Mackenzie Partners will be able to provide you with voting materials and
instructions on how to vote telephonically or through your broker. You may
also contact La Jolla by e-mail at email@example.com or by telephone at
This communication shall not constitute an offer to sell or the solicitation
of an offer to sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the requirements of
Section10 of the Securities Act of 1933, as amended.
Additional Information and Where to Find It
The joint proxy statement/prospectus in connection with the merger with Adamis
was mailed to La Jolla stockholders on or about February12, 2010. Investors
and security holders of both La Jolla and Adamis are urged to read the joint
proxy statement/prospectus because it contains important information about La
Jolla, Adamis and the proposed transaction. The joint proxy
statement/prospectus, and any other documents filed by La Jolla with the SEC,
may be obtained free of charge at the SEC web site at www.sec.gov, by
contacting La Jolla Investor Relations by e-mail at firstname.lastname@example.org or by
telephone at (858)452-6600. La Jolla and its respective directors and
executive officers may be deemed to be participants in the solicitation of
proxies from La Jolla’s stockholders in favor of the proposed transaction.
Information about the directors and executive officers of La Jolla and their
respective interests in the proposed transaction is available in the joint
La Jolla Pharmaceutical Company
Gail A. Sloan
Vice President of Finance and Secretary
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