Company: TRUE
Filing Date: 2025-11-13
Form Type: PREM14A
Source: 0001104659-25-111498
Chunk: 69

Company: TrueCar, Inc.
Filing Date: 2025-11-13
Form: PREM14A
Chunk 69
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 in evaluating a possible transaction. In addition, Mr. Reigersman noted to Mr. Painter that, while he appreciated the direct engagement, it would be important for these details to be set forth in writing for the Board to be able to evaluate the potential transaction.

On September 19, 2024, Fair provided a letter to Mr. Reigersman that explicitly declined to make a specific offer to acquire the Company, but indicated that its valuation analysis suggested a price per share below $3.00 and that its post-closing plans for the Company justified a price per share above $4.00. The Company’s Common Stock closed at a trading price of $3.31 on September 19, 2024.

On September 21, 2024, Mr. Painter and Mr. Reigersman met by telephone to discuss preliminary aspects of Fair’s proposal. Mr. Reigersman reemphasized the need for a written proposal with a definitive price that would be compelling to the Board, and Mr. Painter noted his intent to send a revised proposal.

On September 23, 2024, the Board took action by written consent to form a Transaction Committee, consisting of Ms. Carbone, Mr. Reigersman and Mr. Rodriguez.

On October 1, 2024, Fair provided a letter dated September 30 to Mr. Reigersman proposing to acquire the Company at a price of $4.63 per share and naming several investors who would hypothetically be supportive of a transaction led by Fair and referred to additional, unnamed sources of financing. The letter proposed a thirty (30)- to-forty-five (45)-day due diligence process, which would be followed by the submission of a more detailed letter of intent. The Company’s Common Stock closed at a trading price of $3.23 on October 1, 2024.

Also on October 1, the Transaction Committee met to discuss possible responses to Fair’s September 30 letter.

Between September 26 and October 16, 2024 representatives of Fair’s counsel, Perkins Coie LLP (“

#### Perkins
”), discussed with representatives of Alston the terms of a non-disclosure agreement, including standstill restrictions and the instances in which those restrictions would terminate, as well as restrictions on Fair’s ability to contact sources of financing without the Company’s consent and Fair’s request that the Company not negotiate directly with certain of Fair’s financing sources in the event that the Company conducted a market check to survey the interest of other parties in a