Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 83

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 83
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 provision, with Company B, and Company B provided Tiptree with access to certain diligence materials, including an illustrative transaction analysis, and held calls with members of Tiptree management on October 16, 2024 to discuss a potential transaction involving Tiptree or Fortegra.

On October 16, 2024, Fortegra provided Purchaser with access to certain diligence materials.

On October 17, 2024, members of Tiptree management met with representatives of Barclays to discuss strategic alternatives for Tiptree, including a potential sale of Fortegra.

On October 22, 2024, members of Tiptree management met with representatives of a SPAC sponsor to discuss a potential transaction involving Fortegra.

On October 29, 2024, the Tiptree Board held a regularly scheduled meeting attended by members of Tiptree management and representatives of Barclays. At the meeting, representatives of Barclays presented on Tiptree’s market performance and potential strategic alternatives involving each of Tiptree and Fortegra, including an IPO of Fortegra, a spin-off of Fortegra, a merger of Tiptree and Fortegra, a merger of Fortegra with a SPAC, a sale of Fortegra and a sale of Tiptree. A discussion ensued regarding the advantages and disadvantages of each of these alternatives. Following discussion, the Tiptree Board directed Tiptree management to contact several other potential financial advisors regarding a potential sale of Fortegra. On November 1, 2024, Tiptree management sent a request for proposals regarding a potential sale of Fortegra to six potential financial advisors for Fortegra, including Barclays, BofA Securities and Goldman Sachs.

On November 7, 2024, Fortegra issued $150.0 million of 9.25% Fixed Rate Resetting Junior Subordinated Notes due 2064 to, among other things, finance its growth initiatives and repay certain of Fortegra’s then-existing indebtedness.

On November 15, 2024, members of the Fortegra Board (one of whom is a member of Tiptree management and two of whom are representatives of the WP Investor) and a member of Fortegra management met with representatives of each of the six potential financial advisors, including Barclays, BofA Securities and Goldman Sachs, to discuss a potential sale of Fortegra.

Also on November 15, 2024, Company C submitted to Fortegra an unsolicited non-binding indication of interest (the “Company C November 15 IoI”),