Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 22

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 22
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 June 1, 2026, having an estimated book value of approximately $930 million as of September 30, 2025, net of estimated transaction-related taxes and expenses. See the section of this proxy statement entitled “The Merger—Anticipated Use of Tiptree’s Portion of the Proceeds from the Merger” beginning on page 39 and “Risk Factors—Tiptree will have broad discretion in the use of the proceeds from the Merger and may use proceeds in ways that you and other stockholders may not approve” beginning on page 29 .

Tiptree intends to use proceeds from the Merger for working capital and general corporate purposes, including to pay transaction expenses, to pay taxes on the transactions contemplated by the Merger Agreement, to repay existing debt of Tiptree, to engage in opportunistic stock repurchases and/or pay dividends, to purchase additional assets or businesses and/or for any other purpose that the Tiptree Board deems appropriate.

Tiptree does not expect to distribute cash to its stockholders in connection with the Merger. The Tiptree Board has previously repurchased, and may from time to time repurchase, shares of Tiptree common stock and/or pay cash dividends. Factors that may impact our decisions regarding the method, timing and amount of a return of capital, if any, include economic and market conditions, our financial condition and operating results, cash requirements, capital requirements of our operating subsidiaries, legal requirements, regulatory constraints, investment opportunities at the time any such payment is considered, and other factors the Tiptree Board deems relevant. Furthermore, the specific timing and amount of any dividend payments are subject to declaration on future dates by the Tiptree Board in its sole discretion. There can be no assurances that we will complete any return of capital to our stockholders.

For additional information, see the section of this proxy statement entitled “Unaudited Pro Forma Condensed Consolidated Financial Statements” beginning on page 118 , which assumes completion of the Merger.

**Opinion of Barclays Capital Inc. (“Barclays”) (Page**

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On September 24, 2025, Barclays rendered its oral opinion (which was subsequently confirmed in writing) to the Fortegra Board, to the effect that, as of such date and based upon and subject to the assumptions, limitations, qualifications and other matters stated in its opinion, the aggregate consideration of $1,650,000,000 in cash in the Merger is