On March 13, 2025, the Company entered into an Agreement and Plan of Merger with Toyota Tsusho America, pursuant to which, on the terms and subject to the conditions set forth in the Merger Agreement, the Company would become a wholly owned subsidiary of TAI. The Board of Directors of the Company has approved the Merger Agreement and the transactions contemplated thereby, including the Merger. Subject to the satisfaction of the closing conditions, the Company anticipates the Merger to close in the second half of calendar 2025. As a result of the pending Merger with TAI, the Company will not be holding a second quarter earnings conference call or webcast.
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