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BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Iveric Bio Inc. (Nasdaq – ISEE), Midwest Holding Inc. (Nasdaq – MDWT), Hoth Therapeutics, Inc. (Nasdaq – HOTH)

BALA CYNWYD, Pa., May 01, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.

Iveric Bio Inc. (Nasdaq – ISEE)

Under the terms of the Merger Agreement, Iveric Bio will be acquired by Astellas Pharma Inc. (“Astellas”). Iveric Bio shareholders will receive $40.00 in cash for each share of Iveric Bio they own for a total equity value of approximately US$5.9 billion.The investigation concerns whether the Iveric Bio Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Astellas is paying too little for the Company.

Additional information can be found at https://www.brodskysmith.com/cases/iveric-bio-inc-nasdaq-isee/.

Midwest Holding Inc. (Nasdaq – MDWT)

Under the terms of the Merger Agreement, Midwest Holding will be acquired by Antarctica Capital (“Antarctica”). Midwest Holding shareholders will receive $27.00 in cash for each share of Midwest Holding they own. The investigation concerns whether the Midwest Holding Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Antarctica is paying too little for the Company.

Additional information can be found at https://www.brodskysmith.com/cases/midwest-holding-inc-nasdaq-mdwt/.

Hoth Therapeutics, Inc. (Nasdaq – HOTH)

Under the terms of the agreement, Hoth will be acquired by Algorithm Sciences, Inc. (“Algorithm”). On a pro forma basis and based upon the number of shares of Hoth common stock to be issued in the merger, current Hoth shareholders are currently anticipated to own approximately 14% of the combined company and current Algorithm shareholders are currently anticipated to own approximately 86% of the combined company. The investigation concerns whether the Hoth Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of Hoth shareholders in the combined company.

Additional information can be found at https://www.brodskysmith.com/cases/hoth-therapeutics-inc-nasdaq-hoth.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.


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