Company: TRUE
Filing Date: 2025-11-24
Form Type: DEFM14A
Source: 0001104659-25-115451
Chunk: 82

Company: TrueCar, Inc.
Filing Date: 2025-11-24
Form: DEFM14A
Chunk 82
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 with Fair that had taken place since the Board’s meeting on April 23. Representatives of Morgan Stanley summarized Fair’s prior proposals and recent macroeconomic developments and the impacts thereof on the Company’s stock price. Mr. Foley and representatives of Morgan Stanley discussed the updated sensitivity case with respect to the Company’s financial forecasts developed by management, including updates to the assumptions applied in the financial forecasts provided by management and approved by the Board for use by Morgan Stanley in its financial analyses of the Company. Representatives of Morgan Stanley reviewed updated preliminary financial analyses of the Company after giving effect to the updated sensitivity case and compared the results to previous analyses. A representative of Alston then provided an update on the status of various transaction documents and substantive considerations related thereto.

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Over the weekend of April 26-27, 2025, Mr. Painter and Mr. Reigersman spoke several times by telephone regarding the status of Fair’s financing for the transaction.

On April 28, 2025, Mr. Painter informed Mr. Reigersman that Fair was unable to secure committed financing sufficient to complete a transaction at $3.14 per share. Mr. Painter further indicated that Fair might be able to secure sufficient financing to buy blocks of shares from major Company Stockholders at $3.14 per share. In response, Mr. Reigersman encouraged Fair to continue to work to secure committed financing sufficient to complete a transaction for the entire company.

On May 5 and 6, 2025, Mr. Painter called Mr. Reigersman to provide an update regarding Fair’s ongoing efforts to secure financing. Mr. Reigersman encouraged Mr. Painter to keep working to secure financing and emphasized the desire of the Company to finalize terms quickly. Also on May 6, Mr. Reigersman and Mr. Foley met with representatives of a Company Stockholder (“

#### Stockholder D
”) to provide a routine update regarding the Company’s business. Representatives of Stockholder D expressed their viewpoint that, in light of recent declines in the trading price for the Common Stock, it would be advisable for the Company to commence a formal process to evaluate strategic alternatives.

On May 20, 2025, at the request of Stockholder C, Mr. Reigersman and Mr. Foley again met with a representative of Stockholder C to provide a routine update regarding the Company’s business. Representatives of Stockholder C again expressed their viewpoint that it would be advisable for the Company to commence a formal process