Company: PCRX
Filing Date: 2025-03-14
Form Type: DFAN14A
Source: 0000921895-25-000772
Chunk: 1

Company: Pacira BioSciences, Inc.
Filing Date: 2025-03-14
Form: DFAN14A
Chunk 1
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 for the Board of Pacira BioSciences

Pacira’s Stock is Down 76% Over the Last Decade, While the Board and Management Have Enriched Themselves at a Cost of Half a Billion Dollars, Roughly 50% of the Current Market Cap

Under CEO and Board Member Frank Lee, the Stock Price Has Declined 33%; He is Pushing for Higher Compensation Packages for Management While Burdening Shareholders with New Risks; DOMA Believes His Views on Capital Allocation Are Misaligned With Shareholder Interest and He Has No Track Record of Creating Shareholder Value

Change to the Board’s Composition is Critical to Accelerate Shareholder Return and to Correct a Decade of Corporate Abuse and Lack of Stock Price Returns

DOMA’s Three Highly Qualified Nominees Possess Vast Experience in Strategic Capital Allocation, Risk Management, Healthcare Banking and Intellectual Property Law and Litigation</div>

MIAMI, March 14, 2025 /PRNewswire/ -- DOMA
Perpetual Capital Management LLC (“DOMA Perpetual”) is a fundamentals-based, value-oriented investor that, together with the
other participants in its solicitation (collectively “DOMA” or “we”), beneficially owns approximately 4.2% of
the outstanding shares of common stock of Pacira BioSciences (NASDAQ: PCRX) (“Pacira” or the “Company”).

DOMA today announced its nomination of three
highly skilled director candidates to Pacira BioSciences Board of Directors (the “Board”): Joseph Kromholz, Philip Pucciarelli
and Eric de Armas. DOMA believes electing these nominees is critical to address the Board’s lack of financial sophistication and
legal expertise and to correct its value-destroying capital allocation strategy. These candidates possess significant, relevant experience
and are prepared to ensure that shareholders’ interests are fully represented on the Board.

Over the last decade, Pacira’s stock
price is down 76%, while the S&P 500 was up 167%. In this time, Pacira’s Board and Management have paid themselves
compensation totaling nearly half a billion dollars, or roughly 50% of Pacira’s current market cap. We believe the
Board and management have taken the wrong approach to strategic capital allocation which is misaligned with shareholder interest. Pacira’s
board members may expect to be reelected without challenge, but there should be consequences for lack of stock performance and value creation