Outerbridge Capital Management Reaches Cooperation Agreement with Comtech Telecommunications Corp.
The Deal (subscription required), Newsday, Bloomberg Law and other media sources reported on the agreement reached between Olshan client Outerbridge Capital Management, LLC, a New York-based investment adviser that typically invests across the technology and technology-impacted sector, and Comtech Telecommunications Corp., a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, with respect to the composition of Comtech’s Board of Directors. Pursuant to the agreement, Outerbridge nominee Wendi Carpenter will be appointed to the Board, effective January 3, 2022 and Outerbridge and the Company will work together to identify an additional independent director to be appointed to the Board no later than March 31, 2022. Ms. Carpenter will also be appointed to the Board’s Nominating and Governance Committee. Outerbridge has agreed to withdraw its slate of director nominees for election at the Company’s 2021 Annual Meeting and to support the election of Comtech’s slate of director nominees at the 2021 Annual Meeting, among other things. Andrew Freedman, Meagan Reda, Ian Engoron and Mark Kiley represent Outerbridge Capital Management in connection with its investment in Comtech Telecommunications Corp.