CHICAGO, Sept. 20, 2018 /PRNewswire/ -- SevenSaoi Capital, LLC (together with its affiliates, "SevenSaoi," pronounced "7C"), a long-only public equity investment firm and significant shareholder in PDL BioPharma, Inc. (NasdaqGS: PDLI) ("PDL" or the "Company") with 2,590,198 shares of common stock, announced today that it has delivered a letter to the Board of Directors of PDL. The letter, which can be accessed below, addresses SevenSaoi's serious concerns with the Company's failed acquisition strategy and calls upon the Board to authorize a large share repurchase for the benefit of all shareholders:

PDF: https://mma.prnewswire.com/media/746872/SevenSaoi_Public_Letter_to_PDL_Board.pdf

About SevenSaoiSevenSaoi Capital, LLC is a Chicago-based, long-only investment firm focused on making private equity-style, fundamentally-driven, long-term oriented investments in publicly-traded small cap companies, primarily in the healthcare, technology, media, and telecommunications industries. This strategy builds on its principals' successful 20+ year track record of private and public equity investment experience in these sectors. SevenSaoi invests in deeply undervalued companies and constructively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.

Media and Investor ContactSevenSaoi Capital, LLC Ben Webster(773) 904-9789[email protected]

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SOURCE SevenSaoi Capital