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|☐||Preliminary Proxy Statement|
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|ROCKWELL MEDICAL, INC.|
(Name of Registrant as Specified in Its Charter)
RICHMOND BROTHERS, INC.
RBI PRIVATE INVESTMENT I, LLC
RBI PRIVATE INVESTMENT II, LLC
RBI PI MANAGER, LLC
RICHMOND BROTHERS 401(K) PROFIT SHARING PLAN
DAVID S. RICHMOND
MATTHEW J. CURFMAN
NORMAN J. RAVICH IRREVOCABLE TRUST
NORMAN AND SALLY RAVICH FAMILY TRUST
ALEXANDER COLEMAN RAVICH 1991 IRREVOCABLE TRUST
ALYSSA DANIELLE RAVICH 1991 IRREVOCABLE TRUST
MARK H. RAVICH
(Name of Persons(s) Filing Proxy Statement, if Other Than the Registrant)
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Richmond Brothers, Inc. and Mark H. Ravich, together with the other participants named herein (collectively, “Richmond Brothers”), have filed a definitive proxy statement and accompanying BLUE proxy card with the Securities and Exchange Commission to be used to solicit votes for the election of Richmond Brothers’ highly-qualified director nominee to the Board of Directors of Rockwell Medical, Inc., a Michigan corporation (the “Company”), at the Company’s upcoming 2017 annual meeting of shareholders, or any other meeting of shareholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof.
On May 24, 2017, Richmond Brothers issued the following press release, which was also posted by Richmond Brothers to www.richmondbrothers.com/time-for-action-at-rmti, which can be reached from www.richmondbrothers.com:
Glass Lewis Supports Election of Mark H. Ravich to Rockwell Medical, Inc. Board
Both Leading Independent Proxy Advisory Firms – ISS and Glass Lewis – Have Now Endorsed Case for Change at Rockwell
ISS and Glass Lewis Agree that Highly-Qualified Nominee Mark H. Ravich is the Right Choice for the Rockwell Board
JACKSON, Mich. & ST. LOUIS PARK, Minn. (May 24, 2017) – Richmond Brothers, Inc., a Michigan-based SEC registered investment advisor and wealth management firm that is the largest beneficial owner of Rockwell Medical, Inc. (NASDAQ: RMTI) (“Rockwell” or the “Company”), and Mark H. Ravich, who together with their affiliates beneficially own nearly 6.1 million shares, or 11.7% of the Company’s outstanding common stock, today announced that Glass, Lewis & Co., LLC (“Glass Lewis”), a leading independent proxy voting advisory firm, has recommended that Rockwell shareholders vote on the BLUE proxy card to elect highly-qualified nominee Mark H. Ravich to the Board.
Both leading independent proxy voting advisory firms – Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis – have now recommended that investors vote on the BLUE proxy card for the election of Mark H. Ravich, AGAINST the advisory vote to ratify named executive officers’ compensation, supporting the ONE YEAR frequency for an advisory vote on say on pay, and AGAINST approving the Company’s long term incentive plan. To follow these recommendations, Rockwell shareholders should NOT vote on the Company’s white proxy card.
In reaching its conclusion, Glass Lewis noted the history of underperformance and strategic missteps at Rockwell, and the failure to monetize the Company’s promising drugs Triferic and Calcitriol. Glass Lewis conducted a detailed analysis of both sides’ positions and carefully considered, among other things, the Company’s total shareholder return, operating performance and financial performance, as well as the strong experience and qualifications of nominee Mark H. Ravich.
Glass Lewis recommended that shareholders vote on the BLUE proxy card, saying:
1 Permission to quote from the Glass Lewis report was neither sought nor obtained. Emphases have been added by Richmond Brothers / Mark Ravich.
With regard to Rockwell’s stock performance and what Richmond Brothers and Ravich believe is Rockwell’s attempted cherry picking of a peer group, Glass Lewis notes:
David S. Richmond, Chairman of Richmond Brothers, Inc., and Mark H. Ravich said, “The fact that both leading proxy advisory firms have sided with us speaks volumes. These endorsements serve to validate what we have been arguing for months – that Rockwell has failed its shareholders and that a fresh perspective on the Board is desperately needed to effect true and lasting change. As ISS and Glass Lewis note, Mark H. Ravich is the right choice for Rockwell and the right choice for all shareholders. We will continue to make our case for change as we approach the Company’s annual meeting.”
For more information, and to see other communications and filings from Richmond Brothers and Mark H. Ravich, visit this link: http://www.richmondbrothers.com/time-for-action-at-rmti.
Voting withhold on Rockwell’s nominee on the white proxy card is not the same as voting for Mark H. Ravich on the BLUE proxy card. If you have voted a white proxy card, you have every right to change your vote by voting a later dated BLUE proxy card today. You may vote by internet or telephone by following the instructions on the form you have been provided.
FOLLOW THE ISS AND GLASS LEWIS RECOMMENDATIONS AND VOTE THE BLUE PROXY CARD TO ELECT MARK H. RAVICH TODAY
If you have any questions, or require assistance with your vote, please contact Saratoga Proxy Consulting LLC, toll- free at (888) 368-0379, call direct at (212) 257-1311 or email: email@example.com
About Richmond Brothers, Inc.
Richmond Brothers, Inc. is an SEC registered investment advisor and wealth management firm founded in 1994.
About Mark H. Ravich
Mark H. Ravich is a private investor and currently serves as President of Tri-Star Management, Inc., a commercial real estate management and syndication company that he co-founded in 1998.
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