Company: SSUP
Filing Date: 2025-07-30
Form Type: PREM14A
Source: 0001140361-25-027895
Chunk: 41

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-07-30
Form: PREM14A
Chunk 41
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 a summary of material developments over the course of such discussions and negotiations. The Board, together with the Company’s management and with the assistance of the Company’s advisors, regularly reviews and assesses the Company’s strategic direction, financial performance and business plans with a view towards strengthening the Company’s business and identifying opportunities to increase stockholder value, taking into account financial, industry, competitive and other applicable considerations. As part of this periodic review and assessment, from time to time during the two-year period prior to the Company’s entry into the Merger Agreement, the Board and the Company’s management considered potential strategic alternatives, and engaged in business development and strategic discussions with other participants in the industry in which the Company operates in order to complement and expand the Company’s existing business and operations. As part of this review and assessment, representatives of the Company’s management have, from time to time, attended preliminary meetings with certain parties who expressed interest in meeting with the Company. The Board was provided with regular updates regarding these interactions during their meetings. During the two-year period prior to the Company’s entry into the Merger Agreement, none of these prior discussions progressed beyond preliminary phases, other than as described below. In connection with the Board’s periodic review and assessment described above, in January 2024, at the direction of the Board, the Company retained Financial Advisor A to assist the Company with evaluating alternatives to address the upcoming maturity of the Company’s 6.000% Senior Notes due 2025 (the “Notes”), as well as to evaluate strategic alternatives regarding the Company’s Series A Preferred Shares. From February 2024 until August 2024, the Company and its advisors engaged and negotiated with various third parties to explore a strategic financing transaction. As a result of these efforts, on August 14, 2024, the Company amended and restated its existing term loan credit agreement, to, among other things, provide for a new $520.0 million term loan, the proceeds of which were subsequently applied, in part, to refinance the outstanding term loans under the Company’s term loan credit agreement and to discharge the outstanding principal amount of the Notes. In December 2024, given the right of the holders of the Series A Preferred Shares to unconditionally redeem such Series A Preferred Shares beginning on September 14, 2025, the Board determined it would be in the Company’s best interest to explore the strategic alternatives available to the Company. In connection with such exploration, the Board authorized the Company’s management to work with and engage Lazard Fr