Company: TRUE
Filing Date: 2025-11-24
Form Type: DEFM14A
Source: 0001104659-25-115451
Chunk: 87

Company: TrueCar, Inc.
Filing Date: 2025-11-24
Form: DEFM14A
Chunk 87
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On July 14 and 15, 2025, Perkins and Alston engaged in several discussions regarding the terms of an exclusivity agreement. On July 15, the Company and Fair entered into a letter agreement providing for fourteen (14) days of exclusivity.

On July 16, 2025, Alston provided Perkins a revised draft of the Merger Agreement allowing the Company to solicit alternative acquisition proposals for a period of forty-five (45) days after entering into the Merger Agreement, and providing for a termination fee reduced by 50% for a party making an acquisition proposal that constitutes, or could reasonably be expected to lead to, a superior proposal during that time and otherwise generally consistent with the draft previously provided by Alston on April 23.

On July 21 and 22, 2025, representatives of Fair met with representatives of Stockholder A to discuss, as a preliminary matter, whether Stockholder A would be willing to rollover its existing ownership in the Company and invest additional capital into ownership of Fair and to enter into a voting and support agreement in support of the Merger. No agreement or arrangement was reached regarding these matters.

On July 22, 2025, management delivered an updated version of its financial forecasts to Morgan Stanley, which reflected the Company’s actual performance through the first two (2) quarters of 2025. This updated model was also uploaded to the data room and shared with Fair.

On July 29, 2025, Mr. Reigersman, Mr. Painter and a representative of Stockholder A met in Chicago to discuss the terms on which Stockholder A would be willing to explore supporting a potential transaction between the Company and Fair alongside Stockholder B. Also on that date, Mr. Reigersman contacted a representative of Stockholder B to inform the representative that Mr. Painter would be contacting Stockholder B to discuss on a private basis terms on which Stockholder B might be interested in entering into a voting and support agreement or agreeing to rollover all or a portion of its existing equity ownership in the Company in support of a transaction.

On July 30, 2025, the Transaction Committee met and Mr. Reigersman provided an update regarding the status of negotiations and the meeting with Stockholder A and conversation with Stockholder B.

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On August 1, 2025, a representative of Stockholder B informed a representative of Alston that it would not be interested in discussing a voting and