Applied Fundamental Research, a long-term shareholder of FIGS, Inc., issued an open letter to the company's management and Board of Directors. The letter expressed strong support for FIGS' mission and its achievements in transforming the healthcare apparel market.
The shareholder conveyed confidence in FIGS' ability to execute its growth strategy as a public company and recommended defining a clear capital allocation strategy to enhance shareholder value. This includes optimizing inventory, investing in growth, and returning capital to shareholders.
Applied Fundamental Research explicitly supported the Board and management in rejecting any acquisition offers that do not fully reflect the company’s current and potential value. The firm believes FIGS' brand equity, strong balance sheet, and multiple growth vectors position it for sustained growth and long-term value creation.
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