Company: SSUP
Filing Date: 2025-08-15
Form Type: DEFM14A
Source: 0001140361-25-031532
Chunk: 55

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-08-15
Form: DEFM14A
Chunk 55
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 ticker symbol “SSUP” on June 25, 2025.

On July 6, 2025, the Board and Transaction Committee held a joint meeting attended by members of the Company’s management and representatives of each of Lazard, Weil and A&M, at which, among other things, representatives of Lazard provided an update on the Term Loan Lenders’ due diligence efforts and the status of the Bridge Loan facility funding. Representatives of A&M provided the Board and the Transaction Committee with an update regarding the Company’s commercial activity, including recent customer developments. Weil then reviewed and discussed the Board’s and Transaction Committee’s fiduciary duties under Delaware law and presented the Board and Transaction Committee with an overview of the key terms of each of the Merger

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Agreement (including the consideration to be paid to holder of Common Shares), VSAs, Subscription Agreement and RSA. The Board and Transaction Committee then discussed the key terms of the transaction documents, the benefits of the potential transaction, the Company’s liquidity position, including the fact that, absent continued funding under the Bridge Facility, the Company would not have sufficient liquidity to continue to operate, and it being a requirement under such facility in order to access such funding that the RSA be executed, and the lack of any actionable alternative that would offer greater value to the Company’s equityholders, including the likelihood that there would be no value for the holders of Common Shares and no cash consideration for the holders of the Series A Preferred Shares in the event of a filing under chapter 11 of the Bankruptcy Code (see below under the section entitled “ The Merger—Reasons for the Merger,” beginning on page 30). Following the discussion, the Transaction Committee unanimously (i) approved and declared advisable, and recommended that the Board approve and declare advisable, the Merger Agreement, the execution, delivery and performance thereof and the consummation of the Transactions, including the Merger, upon the terms and subject to the conditions set forth in the Merger Agreement, (ii) determined that the Merger is in the best interests of the Company and its stockholders, (iii) recommended to the Board that the Merger Agreement be submitted to the Company’s stockholders for adoption; and (iv) recommended to the Board that the Board recommend that the stockholders of the Company vote to adopt the Merger Agreement. The Board then (i) approved and declared advisable the Merger Agreement and the consummation of