Company: SSUP
Filing Date: 2025-08-15
Form Type: DEFM14A
Source: 0001140361-25-031532
Chunk: 54

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-08-15
Form: DEFM14A
Chunk 54
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 that it was in the best interests of the Company to continue to pursue the out-of-court transaction, given the Common Share Proposal was the best that the Term Loan Lenders were willing to offer, and that was better for the holders of Common Shares than the lack of consideration they would likely receive in connection with a bankruptcy.

On June 19, 2025 Paul Weiss provided Weil with an initial draft of the Subscription Agreement pursuant to which the Company would issue to Parent, and Parent would subscribe for and purchase from the Company, a certain number of Common Shares. From June 19, 2025 to July 8, 2025, the Company, the Term Loan Lenders and their respective legal advisors negotiated the Subscription Agreement. A significant area of discussion and negotiation included the number of Common Shares that Parent would subscribe for and purchase from the Company.

On June 23, 2025, the Board held an informal update discussion, attended by representatives of each of Weil and Lazard to receive an update on the negotiations with the Term Loan Lenders and the key terms thereof, including the Term Loan Lenders’ views on potential changes to management, as well as the importance of maintaining stability both externally for customers and internally for employees. The Board instructed members of the Transaction Committee to discuss the matter directly with the Term Loan Lenders and report back to the Board.

Between June 23, 2025 and July 6, 2025, members of the Transaction Committee, representatives of the Term Loan Lenders and representatives of each of Weil, Lazard and Paul Weiss held discussions and negotiations regarding the open points in the transaction documents, including the closing conditions and termination rights in the Merger Agreement.

On June 24, 2025, the Company received a written notice from the NYSE that the NYSE determined to immediately suspend trading in the Common Shares due to a determination that the Company had fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15 million. The notice also stated that NYSE would apply to the SEC to delist the Common Shares upon completion of all applicable procedures.

On June 25, 2025, the NYSE filed a Form 25-NSE with the SEC in connection with delisting the Common Shares from the NYSE, which delisting became effective 10 days later on July 5, 2025. The Common Shares began to trade publicly on the OTC Pink under the