Company: SSUP
Filing Date: 2025-07-30
Form Type: PREM14A
Source: 0001140361-25-027895
Chunk: 55

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-07-30
Form: PREM14A
Chunk 55
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 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 ticker symbol “SSUP” on June 25, 2025.

On July 6, 2025, the Board and Transaction Committee held a joint meeting attended by members of the Company’s management and representatives of each of Lazard, Weil and A&M, at which, among other things, representatives of Lazard provided an update on the Term Loan Lenders’ due diligence efforts and the status of the Bridge Loan facility funding. Representatives of A&M provided the Board and the Transaction Committee with an update regarding the Company’s commercial activity, including recent customer developments. Weil then reviewed and discussed the Board’s and Transaction Committee’s fiduciary duties under Delaware law and presented the Board and Transaction Committee with an overview of the key terms of each of the Merger

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Agreement (including the consideration to be paid to holder of Common Shares), VSAs, Subscription Agreement and RSA. The Board and Transaction Committee then discussed the key terms of the transaction documents, the benefits of the potential transaction, the Company’s liquidity position, including the fact that, absent continued funding under the Bridge Facility, the Company would not have sufficient liquidity to continue to operate, and