Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 228

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 228
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ger as of September 30, 2025:

On September 26, 2025, Tiptree entered into the Merger Agreement with Purchaser and Fortegra. Merger Sub will, upon its formation, execute a joinder to the Merger Agreement and thereby become a party thereto. Under the terms of the Merger Agreement, Purchaser will acquire Fortegra for a purchase price of $1.65 billion in cash (subject to certain adjustments as defined in the Merger Agreement), and Merger Sub will merge with and into Fortegra, with Fortegra continuing as the surviving entity, resulting in Purchaser becoming the sole stockholder of Fortegra.

The Merger has been reflected in the unaudited pro forma condensed consolidated statement of operations for the nine months ended September 30, 2025, and for the years ended December 31, 2024, 2023, and 2022. The unaudited pro forma condensed consolidated balance sheet as of September 30, 2025, presents the Merger as if it occurred on that date.

On October 31, 2025, Tiptree entered into a Purchase Agreement, (the “Purchase Agreement”) by and among Carrington Holding Company, LLC, as buyer (the “Reliance Buyer”), Tiptree and Reliance Holdings LLC (“Holdings”), a wholly owned subsidiary of Tiptree, as sellers (the “Reliance Sellers”) and Reliance First Capital, LLC (“Reliance”), a wholly owned subsidiary of Holdings. Pursuant to the Purchase Agreement, the Reliance Buyer will acquire from the Reliance Sellers, all of the issued and outstanding membership interests of Reliance for an amount equal, in U.S. dollars, to the sum of (a) the product of (i) the Tangible Book Value (as defined in the Purchase Agreement) of Reliance as of the closing and (ii) 93.50%; less (b) Transaction Expenses (as defined in the Purchase Agreement); less (c) Unpaid Taxes (as defined in the Purchase Agreement) (the “Reliance Transaction”).

The Reliance Transaction has been reflected in the unaudited pro forma condensed consolidated statement of operations for the nine months ended September 30, 2025, and for the years ended December 31, 2024, 2023, and 2022. The unaudited pro forma condensed consolidated balance sheet as of September 30, 2025, presents the Reliance Transaction as