Parks! America Files Definitive Additional Proxy Materials

TL;DR

**Parks! America just dropped more proxy docs, get ready for a shareholder vote.**

AI Summary

Parks! America, Inc. filed a DEFA14A on February 26, 2024, indicating definitive additional materials related to a proxy statement. The filing confirms the company's status as the registrant and that no filing fee was required. This suggests an upcoming shareholder meeting or vote, with the company providing further information to its investors.

Why It Matters

This filing signals that Parks! America, Inc. is providing shareholders with additional information for an upcoming vote or meeting, which could impact company governance or strategic decisions.

Risk Assessment

Risk Level: low — This is a routine administrative filing providing additional proxy materials, not indicating any immediate financial or operational risk.

Key Players & Entities

• PARKS AMERICA, INC (company) — Registrant
• February 26, 2024 (date) — Filing date
• 0001493152-24-007845 (other) — Accession Number
• 1300 OAK GROVE RD (other) — Business Address
• PINE MOUNTAIN (other) — Business City

FAQ

Filing Documents

• formdefa14a.htm (DEFA14A) — 24KB
• formdefa14a_001.jpg (GRAPHIC) — 6KB
• 0001493152-24-007845.txt ( ) — 33KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy (Amendment No . ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 PARKS! AMERICA, INC. (Name of Registrant as Specified in its Charter) (Name Of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 On February 26, 2024, Parks! America, Inc. issued the below press release: Parks! America, Inc. Announces Leading Independent Proxy Advisory Firms, ISS & Glass Lewis, Recommend Parks! America Shareholders Vote “AGAINST” Each of Focused Compounding’s Proposals at Today’s Special Meeting Both Firms Reject Focused Compound’s Takeover Attempt and Support CEO Lisa Brady and the Incumbent Board of Directors PINE MOUNTAIN, Georgia - February 26, 2024 -- Parks! America, Inc. (OTCPink: PRKA) (the “Company” or “Parks! America”), a leading operator of regional safari parks in the U.S. announced today that both leading independent proxy advisory firms, Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lews”) each recommended that Parks! America, Inc. shareholders vote “AGAINST” all Focused Compounding Fund, LP (collectively with its affiliates, “Focused Compounding”) proposals at today’s Special Meeting of Stockholders (the “Special Meeting”). ISS and Glass Lewis are leading independent proxy advisory firms which, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders. Their voting analyses and recommendations are relied upon by thousands of major institutional investment firms, mutual funds and fiduciaries throughout the world. In recommending “AGAINST” the Focused Compounding proposals attempting to “take over” 1 the Company without paying a control premium to shareholders, ISS 2 concluded, “Given the lack of detail of the dissident critique, and the lack of a go-forward plan underlying its attempt at board control, support for the dissident campaign is not warranted.” Glass Lewis 3 noted, “… we do not believe the shareholder’s solicitation has met the bar for shareholders to endorse a full change in control of the board at this point in time. Accordingly, we recommend that shareholders vote AGAINST all proposals. Lisa Brady, CEO of Parks! America, commented, “We are pleased with the recommendations of the independent proxy advisory firms. The Board of Directors and the management team of Parks! America are executing a strategic plan to improve our properties, create new attractions and improve overall guest experiences. Our focus is to drive value for all of our loyal shareholders.” 1 See DFAN14A filed by Focused Compounding on January 8, 2024 with the U.S. Securities and Exchange Commission (the “SEC”). 2 Permission to quote from the ISS report was neither sought nor obtained. 3 Permission to quote from the Glass Lewis report was neither sought nor obtained. About Parks! America, Inc. Parks! America, Inc. (OTCPink: PRKA), through its wholly owned subsidiaries, owns and operates three regional safari parks - the Wild Animal Safari theme park in Pine Mountain, Georgia, the Wild Animal Safari theme park located in Strafford, Missouri, and the Aggieland Wild Animal Safari theme park, located near Bryan/College Station, Texas. Additional information, including our Form 10-K for the fiscal year ended October 1, 2023, is available on the Company’s website, http://www.animalsafari.com . Important Additional Information The Company, its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in connection with any matters to be considered at the 2024 annual meeting of stockholders of the Company (the “2024 Annual Meeting”). Additionally, the Company, its directors and certain of its executive officers may also be deemed to be participants in the solicitation of proxies from the Company’s stockholders in connection with any matters to be considered at the Special Meeting. In connection with the Special Meeting, the Company filed a definitive proxy statement with the SEC on February 12, 2024 (the “Definitive Proxy Statement”). The Company also intends to file a definitive pro

View Full Filing

View this DEFA14A filing on SEC EDGAR