On April 04, 2024, Anson Funds Management LP announced that it has commented on recent actions taken by Twilio?s Board of Directors.Sagar Gupta, Portfolio Manager and Head of Active Engagement at Anson Funds, stated that, ?Following discussions between Anson Funds and the Company?s representatives, the Company?s Board issued a press release announcing the departure of long-tenured director Byron Deeter and a proposal to declassify the Board which were based on Anson Funds? recommendations and came only after its insistence to the Board that further actions were needed to position the Company and its stockholders for success following the announcement of an agreement with a new stockholder on April 1, 2024. While this agreement represented incremental positive change, in its view it was not enough to prevent the continued entrenchment of the Board and ensure an end to the Company?s persistent underperformance.

While Anson is pleased that its engagement has led to significant change ? including the long overdue departure of Founder and Former CEO Jeff Lawson in January ? proper alignment and oversight continue to be desperately needed to maximize long-term value.?