Company: TIPT
Filing Date: 2025-10-17
Form Type: PREM14A
Source: 0001140361-25-038514
Chunk: 231

Company: TIPTREE INC.
Filing Date: 2025-10-17
Form: PREM14A
Chunk 231
---
ger is subject to, among other conditions to closing, approval by Tiptree shareholders and regulators. There can be no assurance the Merger will close as expected or at all. A gain on the sale recorded in the preliminary unaudited pro forma condensed consolidated balance sheet for the period ended June 30, 2025 is as follows:

|                                       |     | As of June 30, 2025 |
|:--------------------------------------|:----|--------------------:|
| Consideration                         |     |          $1,650,000 |
| Less: transaction expenses            |     |              27,000 |
| Net consideration                     |     |           1,623,000 |
| Tiptree diluted ownership of Fortegra |     |              69.10% |
| Fair value of consideration received  |     |           1,121,490 |
| Estimated gain on disposal            |     |            $468,719 |

The gain on the sale is based upon financial information as included in the preliminary unaudited pro forma condensed combined financial statements and changes to the financial position of Fortegra through to the closing date of the Merger will impact these amounts. There can be no assurance that such changes will not be material. 3. PRO FORMA ADJUSTMENTS AND ASSUMPTIONS (a) The unaudited condensed consolidated pro forma balance sheet assumes the Merger was completed on June 30, 2025. (b) The net increase to cash of $434,279 represents an estimated $801,065 increase to cash from the net after-tax proceeds of the Merger, partially offset by $366,786 of cash held at Fortegra removed as part of the deconsolidation. Deducted from the net cash proceeds of the Merger are estimated costs including investment bankers, legal counsel, holding company interest expense and write-off of deferred financing costs, incentive compensation and other professional fees through anticipated closing. (c) The net decrease to debt represents the repayment of the 2025 Note in the amount of $78,741 due to Fortress (inclusive of estimated interest expense through closing) and $356,996 of debt at Fortegra removed as part of the deconsolidation. (d) Represents the estimated after-tax gain to be recognized upon the Merger. Included in the pro-forma, separate from the gain on the Merger, is an estimate for incremental incentive compensation for the year ended December 31, 2025, and 2026 prior to the transaction