Figs won’t pursue STORY3’s unsolicited acquisition proposal

In a regulatory filing last night, Figs (FIGS) disclosed that on January 16, the company sent a letter to STORY3 Capital Partners, informing STORY3 that the company’s board of directors, including a special committee of independent and disinterested directors with independent financial and legal advisors, after careful consideration, “remains confident in the company’s standalone plan and prospects and has decided not to pursue STORY3’s unsolicited acquisition proposal.”