Midwest announces advisors recommended shareholders to vote “FOR” acquisition

Midwest Holding announced that leading independent proxy advisory firms Institutional Shareholder Services and Glass, Lewis & Co. recommended that Midwest shareholders vote “FOR” the proposed acquisition of Midwest by Antarctica Capital. A special meeting of Midwest shareholders will be held virtually to vote on the transaction on July 26. As previously announced on May 1, 2023, Midwest entered into a definitive agreement to be acquired by Antarctica in an all-cash transaction valued at approximately $100M. The transaction is expected to close in the second half of 2023, subject to certain customary closing conditions, including the receipt of insurance regulatory approvals and approval by Midwest shareholders.