|Item 4.||Purpose of Transaction.|
Item 4 is hereby amended to add the following:
On September 2, 2021, Mr. Razin and the other participants in his solicitation (collectively, the “Razin Group”) filed a revised preliminary proxy statement in connection with the Issuer’s 2021 annual meeting of shareholders (the “Annul Meeting”) and issued a press release (the “September 2 Press Release”). In the September 2 Press Release, the Razin Group provides that it has proactively modified its slate of nominees for election at the Annual Meeting to include only four highly-qualified director candidates in an effort to install a new, reinvigorated leadership on the Board. The four candidates, down from the original slate of six, include Kenneth Fearn, Sheldon Razin, Lance Rosenzweig, and Ruby Sharma (the “Nominees”). In addition, the Razin Group is aiming to replace four entrenched directors, including Chairman Jeff Margolis, Vice Chair and Chair of the Compensation Committee Craig Barbarosh, Chair of the Audit Committee George Bristol, and Chair of the Nominating and Governance Committee Morris Panner. Further, the September 2 Press Release provides that the Razin Group does not intend to invoke cumulative voting in the election of directors at the Annual Meeting to avoid the uncertainty for shareholders that it can often entail, especially in the context of a potential reincorporation. The full text of the September 2 Press Release is attached hereto as exhibit 99.1 and incorporated herein by reference.