Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 91

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 91
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egra considering further steps with Purchaser, Purchaser would first be required to provide an indication as to Purchaser’s valuation of Fortegra. Members of Tiptree management also updated the Fortegra Board on the decision to reach back out to Company C and its financial advisor with respect to a potential transaction.

On April 29, 2025, the Tiptree Board held a regularly scheduled meeting attended by members of Tiptree management and a representative of Ropes & Gray. At the meeting, members of Tiptree management provided an update on negotiations with Purchaser, including that Purchaser was not prepared to re-confirm its prior valuation of Fortegra at the current time and that representatives of Barclays and BofA Securities had informed representatives of Goldman Sachs that, as a condition to Fortegra considering further steps with Purchaser, Purchaser would first be required to provide an indication as to Purchaser’s valuation of Fortegra. Members of Tiptree management also updated the Tiptree Board on the decision to reach out to Company C and its financial advisor with respect to a potential transaction.

Following the April 29, 2025 meeting of the Tiptree Board, at the direction of Fortegra, representatives of Barclays and BofA Securities contacted representatives of Goldman Sachs to confirm that, without Purchaser’s providing its indication of valuation of Fortegra, the Fortegra Board would not be able to evaluate Purchaser’s proposal as made on April 27, 2025, and Purchaser would not be provided with any additional diligence materials with respect to Fortegra.

On April 30, 2025, representatives of the WP Investor met with members of management of Company C to re-engage with respect to a potential transaction. At that meeting, members of management of Company C informed the representatives of the WP Investor that Company C was no longer interested in pursuing a transaction.

Also on April 30, 2025, representatives of Goldman Sachs informed representatives of Barclays and BofA Securities that Purchaser’s equity valuation of Fortegra was $1.5 billion.

On May 1, 2025, members of Tiptree management and representatives of a family office (the “Family Office”) held a meeting to discuss a potential transaction involving Tiptree or Fortegra.

Also on May 1, 2025, Fortegra entered into an engagement letter with Barclays and an engagement letter with BofA Securities. Also on May 1, 2025, Tiptree entered into a letter agreement with Barclays in connection