Company: TRUE
Filing Date: 2025-11-13
Form Type: PREM14A
Source: 0001104659-25-111498
Chunk: 74

Company: TrueCar, Inc.
Filing Date: 2025-11-13
Form: PREM14A
Chunk 74
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 counterparties and provided the Board with preliminary financial analyses of Fair’s $4.63 per share proposal. The Board also discussed Fair’s request to initiate discussions with certain of the larger Company Stockholders. Following discussion, the Board indicated its approval of management’s proposal to communicate to Fair’s management that it should increase their proposed purchase price to a range of approximately mid-$5.00 per share.

On February 10, 2025, Mr. Reigersman met with representatives of Party A to discuss the strategic fit of a combination between the Company and Party A and encouraged them to submit a formal proposal. No proposal was ultimately received from Party A.

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Also on February 10, the Company executed a side letter to Fair’s non-disclosure agreement to permit confidential, preliminary discussions between Fair and each of Stockholder A, Caledonia, and another Company Stockholder (“

#### Stockholder B
”) regarding terms on which those Company Stockholders may be interested in being a source of financing, through rollover of their existing equity stake in the Company or otherwise, in an acquisition of the Company led by Fair.

On February 28, 2025, Mr. Reigersman and Mr. Painter spoke by telephone and discussed Mr. Painter’s plans with respect to Company Stockholder outreach, as well as various provisions of the draft Merger Agreement, including the termination fee, financing, treatment of Company Equity Awards and tax treatment of the proposed Merger.

During the first half of 2025 a number of tariffs were imposed on automotive components as well as finished automobiles produced outside of the United States, which in turn increased the risk of significant disruptions in consumer demand for new and used automobiles. On February 18, 2025, the Company announced financial results for the year ended December 31, 2024 that were below the consensus of analysts’ expectations and highlighted the need to make significant financial investments in the business. Following these various developments, the price of the Company’s Common Stock declined from a 52-week high of $4.62 per share on December 4, 2024 to a 52-week low of $1.05 per share on May 6, 2025.

On March 3, 2025, at the request of a Company Stockholder (“

#### Stockholder C
”), Mr. Reigersman and Mr. Oliver Foley, the Company’s Chief Financial Officer, met with the portfolio manager of Stockholder C to discuss