Company: TRUE
Filing Date: 2025-11-24
Form Type: DEFM14A
Source: 0001104659-25-115451
Chunk: 89

Company: TrueCar, Inc.
Filing Date: 2025-11-24
Form: DEFM14A
Chunk 89
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 in providing equity financing in connection with a potential acquisition of the Company by Fair. Stockholder B indicated that it was not interested in providing such financing and would seek to participate in any potential acquisition of the Company by Fair on the same terms as other Company Stockholders.

Also on August 11, 2025, at the request of Stockholder C, Ms. Carbone met with a representative of Stockholder C to discuss the Company’s current stock price and operations. During this meeting, the representative again expressed Stockholder C’s viewpoint that it would be advisable for the Company to commence a formal process to evaluate strategic alternatives.

On August 19, 2025, the Transaction Committee met and Ms. Carbone provided an update on her conversation with Stockholder C and Mr. Reigersman provided an update on the latest negotiations with Fair, including the current status of Fair’s financing efforts.

Throughout the balance of late August and early September, Fair and its advisors, as well as the Company and its advisors, had multiple discussions regarding Fair’s ability to raise sufficient financing on acceptable terms to support a transaction for all of the Common Stock at a price of $2.80 per share. Also during that time, the Company was informed that Mr. Painter and other representatives of Fair participated in a number of discussions with affiliates of the Investor regarding the Investor’s interest in providing equity or debt financing in support of a potential transaction.

On August 28, 2025, the Transaction Committee met and Mr. Reigersman provided an update regarding the continued negotiations with Fair and the status of Fair’s financing efforts.

On September 5, 2025, Mr. Reigersman and Mr. Painter met for lunch and discussed the ability of Fair to finalize a transaction with the amount and sources of financing that were available to Fair and to clarify

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the calculations with respect to the amount required to complete the transaction. Subsequently on September 5, 2025, Alston and Perkins met to discuss structures that would allow for an automatic increase in the per share merger consideration if Fair was able to enter into additional rollover agreements between signing and closing. Later that day, Fair and an affiliate of the Investor submitted an updated offer letter at a purchase price of $2.37 per share, which was shared with the Board by e-mail and noted that such affiliate of the Investor would be leading Fair’s equity financing. The Company’s Common Stock closed at a trading price of $2.16