Company: TRUE
Filing Date: 2025-11-24
Form Type: DEFM14A
Source: 0001104659-25-115451
Chunk: 96

Company: TrueCar, Inc.
Filing Date: 2025-11-24
Form: DEFM14A
Chunk 96
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 purchase price and termination fees, as well as the importance of a robust “go shop” process. Mr. Painter and the Investor expressed a willingness to continue working on documentation on the basis of a $2.55 per share purchase price, and elimination of the cash closing condition and the condition related to the maximum amount of transaction expenses. Mr. Reigersman updated the Board accordingly via email.

Later on October 4, 2025, representatives from Alston, Greenberg and Perkins met via videoconference to review the draft Merger Agreement.

On October 6, 2025, Alston delivered a revised draft of the Merger Agreement to Greenberg and Perkins which reflected the removal of the minimum cash and maximum transaction expense conditions, included the mechanics for depositing the Parent Termination Fee in a separate account held by the Company, reflected updates to the go shop/no shop process, expanded the circumstances in which the Parent Termination Fee would be payable, and refined the additional financing condition and its impact on the Company’s ability to seek specific performance.

On October 7, 2025, Alston delivered a revised draft of the Equity Commitment Letter to Greenberg and Perkins.

On October 8, 2025, Perkins delivered a list of twenty-two (22) parties that Fair proposed to exclude from the go shop process.

Also on October 8, 2025, Greenberg delivered to Alston: (i) an updated draft of the Merger Agreement, which included various comments on the terms related to the deposit of an amount equal to the Parent Termination Fee with the Company and other minor changes; and (ii) an updated draft of the Equity Commitment Letter.

On October 9, 2025, representatives from Alston and Greenberg met to discuss whether notification under the HSR Act would be required given the current status of the expected financing for the transaction.

Also on October 9, 2025, Alston delivered to Greenberg and Perkins: (i) a revised list of eighteen (18) parties that would be excluded from the “go shop” process; and (ii) an updated draft of the Merger Agreement, which contained clarifications of the treatment of the Deposit Amount, among other changes.

Over the balance of October 10 through October 14, 2025, Perkins, Greenberg and Alston worked to finalize the terms of the Merger Agreement, the Equity Commitment Letter and the form of Support Agreement.

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