On January 28, 2021, Cellular Biomedicine Group, Inc. announced that leading proxy advisory firms Glass, Lewis & Co.and Institutional Shareholder Services Inc. have both recommended the Company’s stockholders vote for the proposal to adopt the definitive merger agreement that provides for the acquisition of CBMG for $19.75 in cash per share of common stock in a going private transaction. The Company stated that it will hold a special meeting of the stockholders on February 8, 2021 and stockholders will be asked to consider and vote on the merger proposal.