Company: SSUP
Filing Date: 2025-07-30
Form Type: PREM14A
Source: 0001140361-25-027895
Chunk: 51

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-07-30
Form: PREM14A
Chunk 51
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or approximately $6.0 million) with respect to the holders of Common Shares to representatives of Oaktree. On May 29, 2025, representatives of Oaktree, on behalf of the Term Loan Lenders, told the representatives of Lazard that the Term Loan Lenders were not willing to pay the holders of Common Shares more than $3.0 million, noting that if the Term Loan Lenders pursued the transaction in-court, then the holders of Common Shares would likely receive no consideration.

On June 4, 2025, Weil provided a draft Merger Agreement and draft form of Voting and Support Agreement (“VSA”) to Paul Weiss. The VSA was expected to be entered into by the directors and officers of the Company as well as certain other stockholders of the Company, including TPG, the holder of all of the issued and outstanding Series A Preferred Shares.

Separately, on June 4, 2025, the Company entered into an amendment to its existing term loan credit agreement, pursuant to which, among other things, the Term Loan Lenders agreed to provide the Bridge Facility, of which $10 million was funded on June 4, 2025 and the remainder of which was to be funded in accordance with the terms and conditions of the amended term loan credit agreement. Also on June 4, 2025, the Company entered into an amendment to its existing revolving credit agreement, pursuant to which, among other things, the Company’s revolving credit lenders agreed to (i) a limited waiver of the financial covenants and (ii) the incurrence of the Bridge Facility. Pursuant to the amendment to the Company’s existing term loan credit agreement, among other milestones, the Company was required to enter into the Recapitalization Support Agreement (“RSA”) by June 11, 2025.

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On June 5, 2025, Weil provided a draft RSA to Paul Weiss which, consistent with the Term Sheet, provided for the Term Loan Lenders agreeing to support an out-of-court recapitalization through a merger transaction (so long as the Company met certain specified milestones related to such a transaction), which transaction would provide consideration to both holders of Common Shares and the holder of the Series A Preferred Shares. In the event that a merger agreement evidencing such a transaction could not be executed by a specified date to be determined, or if holders of the requisite number of Common Shares and the Series A Preferred Shares to