The reporting person acquired securities of the Issuer for investment purposes based on his belief that the Issuer's securities represented an attractive investment opportunity. See Exhibit 99.1 for a discussion of the reporting person's views regarding the Issuer.
The reporting person will routinely monitor the Issuer regarding a wide variety of factors that affect his investment considerations, including, current and anticipated future trading prices of the securities of the Issuer, the Issuer's operations, assets, prospects, financial position, and business development, Issuer's management, Issuer-related competitive and strategic matters, general economic, financial market and industry conditions, and other investment considerations. Depending on his evaluation of various factors, the reporting person may take such actions regarding his holdings of the Issuer's securities as he deems appropriate in light of circumstances existing from time to time. Such actions may include purchasing additional securities of the Issuer in the open market, through privately negotiated transactions with third parties or otherwise, and selling at any time, in the open market, through privately negotiated transactions with third parties or otherwise, all or part of the securities that he now owns or hereafter acquires. The reporting person also may from time to time enter into or unwind hedging or other derivative transactions with respect to the Class A Common Stock or pledge his interests in the Class A Common Stock and other securities to obtain liquidity. In addition, from time to time the reporting person and his representatives and advisers may communicate with other stockholders, industry participants and other interested parties about the Issuer.
The reporting person has no present plan or proposal that relates to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the reporting person may recommend actions to the Issuer's management, board of directors and stockholders that could involve one or more of the events referred to in clauses (a) through (j) of Item 4 of Schedule 13D, including, potentially, one or more mergers, consolidations, sales or acquisitions of assets, changes in control, issuances, purchases, dispositions or pledges of securities or other changes in capitalization. |