Company: TRUE
Filing Date: 2025-11-24
Form Type: DEFM14A
Source: 0001104659-25-115451
Chunk: 125

Company: TrueCar, Inc.
Filing Date: 2025-11-24
Form: DEFM14A
Chunk 125
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laws.

The parties to the Merger Agreement have agreed to take all requisite actions so that, from and after the Effective Time, until successors are duly elected or appointed and qualified or until their earlier, death, resignation or removal in accordance with applicable law, the certificate of incorporation and the bylaws of the Surviving Corporation: (i) the directors of Merger Subsidiary immediately prior to the Effective Time will be the directors of the Surviving Corporation; and (ii) the officers of Merger Subsidiary immediately prior to the Effective Time will be the officers of the Surviving Corporation.

Following the Merger, all of the Common Stock will be owned, beneficially and of record, by Parent, and except with respect to any Rollover Stockholders, by virtue of the Merger, none of the holders of Common Stock will, have any direct ownership interest in, or be a stockholder of, TrueCar, the Surviving Corporation or Parent. As a result, the holders of Common Stock will no longer benefit from any increase in the value, nor will they bear the risk of any decrease in the value, of Common Stock. Following the Merger, Parent will benefit from any increase in TrueCar’s value and will also bear the risk of any decrease in TrueCar’s value.

At the Effective Time, each share of Common Stock issued and outstanding immediately prior to the Effective Time (other than (i) Rollover Shares, if any, (ii) Dissenting Shares, and (iii) Company Shares) will no longer be outstanding and will automatically be canceled and retired and will cease to exist, and will thereafter represent only the right to receive the Merger Consideration. If any Rollover Agreements are executed and delivered prior to the Effective Time, then the Rollover Shares issued and outstanding immediately prior to the Effective Time will be canceled and, pursuant to the Rollover Agreements, the holder of such Rollover Shares will be entitled to receive shares of the common stock of Parent in respect thereof. With respect to Dissenting Shares and Company Shares, (a) each Company Share, excluding any Rollover Shares, will be canceled, and no payment will be made with respect thereto, and (b) any Dissenting Shares will automatically be canceled and cease to exist, and each Dissenting Share shall represent the right to receive the fair value of such Dissenting Share in accordance with the provisions of Section 262 of the DGCL.

For information regarding the effects of the Mer