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Jorey Chernett, Owner of More than 5.5% of Outstanding Shares of CVRx, Calls on Board to Begin Immediate Process to Pursue Sale of the Company to a Strategic Acquirer

CVRx
  • Jorey Chernett, founder of Pointillist Family Office & beneficial owner of over 5.5% of CVRx shares, delivered a letter to the CVRx Board urging an immediate sale process.
  • The letter asserts that CVRx's Barostim product holds significant value for a large medical device company with established infrastructure.
  • A sale is described as accretive to a strategic acquirer within twelve months & capable of delivering shareholder value superior to standalone operations.
  • Chernett calls on the Board to retain an independent financial advisor & prioritize a comprehensive review of strategic alternatives focused on a sale.
  • The letter demands aggressive cuts to executive compensation, G&A expenses, & a suspension of incremental standalone spending during the review.
  • Chernett urges a public commitment to a clear timeline, arguing that acting now while the company retains cash & market momentum will yield better outcomes than waiting for a depleted cash balance.
  • The letter highlights the strategic scarcity of Barostim as the only approved neuromodulation therapy for heart failure.