First Brands Group, LLC and Horizon Global Corporation have announced that following the successful completion of First Brands’ tender offer to purchase (a) any and all issued and outstanding shares of common stock of Horizon Global at a price of $1.75 per share (the “Common Stock Offer Price”), and (b) any and all issued and outstanding shares of Series B preferred stock of Horizon Global at a price equal to the Redemption Price (pursuant to the Certificate of Designations, Preferences and Rights of Series B Preferred Stock of Horizon Global Corporation) per share of Series B preferred stock calculated as of the closing date of the acquisition of Horizon Global (the “Preferred Stock Offer Price”) (the Common Stock Offer Price and the Preferred Stock Offer Price are referred to herein as the “Offer Price”) subject to any required withholding of taxes, net to the seller in cash without interest, First Brands completed the previously announced acquisition of Horizon Global, pursuant to an Agreement and Plan of Merger, dated as of December 30, 2022.

All conditions of the offer were satisfied and First Brands completed its acquisition of all issued and outstanding equity securities of Horizon Global for the Offer Price. As a result of the acquisition, Horizon Global became a wholly-owned subsidiary of First Brands and Horizon Global’s common stock will be delisted from the New York Stock Exchange.