111 Equity Group increases stake in Matinas Biopharma Holdings, Inc.

NEW YORK, Jan. 24, 2025 /PRNewswire/ - 111 Equity Group, LLC ("111 Equity") and its principal filed a Schedule 13D with the Securities and Exchange Commission ("SEC") to disclose that 111 Equity and its principal have collectively accumulated a 5.17% stock ownership stake in Matinas Biopharma Holdings, Inc. (NYSE American: MTNB) ("MTNB") as of January 2, 2025. Since this filing, the principal of 111 Equity bought more shares to increase 111 Equity's and the principal's collective ownership in MTNB as 111 Equity believes MTNB provides an opportunity for shareholders to enhance shareholder value. MTNB announced the start of a strategic review in late October 2024. 111 Equity believes there are avenues to enhance shareholder value as a part of this strategic review, including, without limitation, monetizing certain existing assets (including the potential asset sale of MAT2203, MTNB's lead Phase 3 ready antifungal drug candidate), leveraging MTNB's value as a listed security on NYSE for potential merger candidates, and leveraging and maintaining MTNB's balance sheet.

As of MTNB's most recent 10-Q (filed on November 13, 2024), MTNB has reported $10,295,000 in cash and cash equivalents which would equate to roughly $2.13 cash per share value, which is below the stock's closing price of $0.55 on January 16, 2025. 111 Equity understands that there has been additional cash burn due to MTNB laying off 80% of the workforce; however, it is 111 Equity's belief that the cash on hand will still be greater than the current market cap of MTNB. 

Since filing the Schedule 13D, 111 Equity has spoken with management at MTNB and expects to continue to engage in discussions with management in an effort to enhance shareholder value in connection with this strategic review.

Disclaimers

This press release is not an offer to purchase or a solicitation of an offer to sell any stock. Any solicitation or offer will only be made through materials filed with the SEC.  

This press release contains 111 Equity's current views on the value of stock of MTNB and certain actions that the board of directors of MTNB might take to enhance the value of MTNB's stock. The views expressed in this press release are based on 111 Equity's and the principal's own analyses of publicly available information and assumptions such parties believe to be reasonable. There can be no assurance that the information considered and analyzed is accurate or complete. Similarly, there can be no assurance that 111 Equity's and the principal's assumptions are correct. The actual performance and results of MTNB may differ materially from 111 Equity's and the principal's assumptions and analyses.

This press release also references the size of 111 Equity's and its principal's current holdings of shares in MTNB. 111 Equity's and its principal's views and holdings could change at any time. 111 Equity Group and its principal reserve the right to modify their ownership of shares, including, without limitation, the purchase or sale of shares at any time and may reconsider and change their plans, including ceasing to engage in discussion with management, at any time. We may take any of these or other actions regarding MTNB without updating this press release or providing any notice whatsoever of any such changes (except as otherwise required by law).

Forward-Looking Statements

Certain statements contained in this press release are forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Due to such risks and uncertainties, actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as "believe," "might, "expect," "anticipate," "intend," "plan," "estimate," "should," "could," "may," "will," "objective," "projection," "forecast," "continue," "strategy," "position" or the negative of those terms or other variations of them or by any comparable terminology.

Important factors that could cause actual results to differ materially from the expectations set forth in this press release include, among other things, the factors identified in the public filings of MTNB and other information generally available in the market. Such forward-looking statements should therefore be construed considering such factors, and 111 Equity and its principal are under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE 111 Equity Group