Company: SSUP
Filing Date: 2025-07-30
Form Type: PREM14A
Source: 0001140361-25-027895
Chunk: 54

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-07-30
Form: PREM14A
Chunk 54
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 a meeting, attended by representatives of each of Lazard, Weil and A&M, at which, among other things, representatives of each of Lazard and Weil provided an update to the Board on the negotiations with the Term Loan Lenders and the key terms thereof, including the fact that the Term Loan Lenders had informed the representatives of Lazard that they were not willing to pay more than $3.0 million to the holders of Common Shares, as well as an update on how discussions between the Company’s management and its customers, with representatives of the Term Loan Lenders in attendance, had progressed. The Board also discussed the importance of effectively managing customer relationships during the period between signing of the Merger Agreement and the closing of the Transactions. Representatives of Lazard also discussed with the Board the Company’s liquidity position, strategies the Company was undertaking to preserve capital, and the timing of the next required capital injection. Representatives of each of Lazard and Weil also discussed with the Board the Term Loan Lenders’ views on potential changes to management. Following discussion regarding the fact that, absent pursuing an out-of-court transaction with the Term Loan Lenders, the Company would need to file for bankruptcy protection, in which event it would be unlikely that there would be any value for holders of Common Shares, the Board concluded 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