Company: TIPT
Filing Date: 2025-10-17
Form Type: PREM14A
Source: 0001140361-25-038514
Chunk: 85

Company: TIPTREE INC.
Filing Date: 2025-10-17
Form: PREM14A
Chunk 85
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 be reduced by the amount of transaction-related expenses incurred, and the proposal assumed that management-level employees would remain employed by Fortegra following the closing. Company C also requested exclusivity for a period of three months in connection with the submission of the Company C November 15 IoI.

On November 18, 2024, members of Tiptree management, representatives of the WP Investor and members of the Tiptree Board and the Fortegra Board met to discuss engagement of financial advisors for a potential sale of Fortegra. Based upon, among other things, Barclays’, BofA Securities’ and KBW’s respective familiarity with Fortegra and its qualifications, reputation and experience in the valuation of businesses and securities in connection with mergers and acquisitions generally, as well as substantial experience in transactions comparable to the Merger, Tiptree management, representatives of the WP Investor and members of Fortegra management determined that (i) each of Barclays and BofA Securities be engaged to act as Fortegra’s financial advisor in connection with Fortegra’s exploration of strategic alternatives and (ii) KBW be engaged to assist Fortegra in its preparation for potential strategic transactions.

On December 2, 2024, Fortegra entered into an engagement letter with KBW.

Beginning on December 20, 2024 and continuing through January 2025, at the direction of Fortegra, Barclays and BofA Securities contacted fifteen prospective counterparties who had not yet been subject to outreach or held discussions with Tiptree or Fortegra with respect to a potential transaction earlier in 2024, as well as Company C and Purchaser, to solicit their interest in a potential strategic transaction with Fortegra.

During this same period, Fortegra entered into non-disclosure agreements, none of which contained a standstill provision, with six prospective counterparties to a transaction, including Company C, and provided prospective counterparties with access to certain diligence materials. During this period, members of Fortegra management also hosted management presentations and held preliminary discussions with five potential strategic counterparties, including Company C and Purchaser.

On December 16, 2024, members of Fortegra management and a representative of Purchaser attended a dinner at which they discussed Fortegra’s and Purchaser’s respective businesses and Purchaser’s interest in a strategic transaction involving Fortegra.

On December 17, 2024, a representative of Purchaser delivered to members of Fortegra management a letter addressed to Tiptree, Fortegra and the WP Investor containing an unsolicited non-binding indication of interest