Company: SSUP
Filing Date: 2025-08-15
Form Type: DEFM14A
Source: 0001140361-25-031532
Chunk: 52

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-08-15
Form: DEFM14A
Chunk 52
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 solicit acquisition proposals from other potential buyers and the fiduciary exception to this restriction permitting the Company to consider and negotiate superior proposals, make a change of recommendation to stockholders to vote in favor of a superior proposal instead of the Merger and the Merger Agreement, and to terminate the Merger Agreement to enter into an alternative acquisition agreement that resulted from a superior proposal; (ii) the level of conditionality in the Merger Agreement, including with respect to entering into a revolving credit facility for the Company following consummation of the Merger and the delivery of certain contracts at closing; (iii) the termination rights of Parent under the Merger Agreement, including if the Company did not file a preliminary proxy statement by the date that is fifteen (15) business days following the execution of the Merger Agreement, if there was certain litigation related to the Transactions and if certain contracts were not delivered to the Company by certain dates; (iv) the scope of the representations and warranties and covenants of the parties, including restrictions on the Company’s operations during the interim period and (v) the treatment of the Company’s employees.

On June 17, 2025, the Company and the Term Loan Lenders agreed to a form of VSA for the holders of Common Shares which the parties intended to be executed by each director and officer of the Company who owned Common Shares, as well as certain other stockholders of the Company who owned Common Shares, which form of VSA provided that if the Board made a change in recommendation with respect to the Merger and the Merger Agreement, the stockholders party thereto may vote their shares in any manner they choose. Following such agreement, Weil sent a proposed form of VSA that the parties intended to be executed by TPG, as the holder of all of the issued and outstanding Series A Preferred Shares, to TPG’s legal counsel, Kirkland & Ellis, LLP, for its review and comment. From June 17, 2025 to July 6, 2025, the Company, the Term Loan Lenders, TPG and their respective legal advisors negotiated the VSA for the Series A Preferred Shares.

Also on June 17, 2025, the Company received a written notice from the NYSE that the Company no longer satisfied the continued listing compliance standards under the NYSE Listed Company Manual because the average closing price of the Common Shares was less than $1.00 per share over a consecutive 30-trading day period. Additionally, representatives of Paul Weiss shared with