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In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, “Item 1A. Risk Factors” in the 2025 10-K, which could materially affect our business, financial condition or future results.
Below is an update to the risk factor entitled, “We are currently subject to a proxy contest seeking to replace all members of our Board of Directors, which could disrupt our business and adversely affect our results of operations.”
While the proxy contest initiated by a stockholder to replace members of our Board of Directors ended at our 2026 Annual Meeting of Shareholders, the same stockholder initiated a tender offer that has since expired and continues to pursue a non-binding indicative offer to acquire the Company. These circumstances have required, and are expected to continue to require, significant time and attention from our management and Board of Directors and have resulted in,
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and may continue to result in, substantial legal, advisory, and other professional fees and may result in increased volatility in the market price of our common stock.