The Shyft Group announced that Aebi Schmidt Group has filed a registration statement on Form S-4 with the Securities and Exchange Commission (SEC) relating to its previously announced proposed merger.
The registration statement includes a preliminary prospectus and proxy statement in connection with the merger. Although the registration statement has not yet become effective and the information contained therein is subject to change, it provides important information about Shyft, Aebi Schmidt and the merger. The registration statement includes pro forma U.S. GAAP financial results for 2024, including combined revenues of $1.9 billion and adjusted EBITDA of $148 million. The expected closing date of the merger is mid-2025 and the closing is subject to the registration statement being declared effective by the SEC, approval by shareholders of Shyft, and certain other customary closing conditions.
Upon the consummation of the merger, the combined company is expected to be named Aebi Schmidt Group, and its shares will be listed and traded on the Nasdaq under the ticker symbol “AEBI”.
“Filing the S-4 is an important milestone as we move closer to completing the merger and begin the SEC review process,” said James Sharman, chairman of the board of directors at Shyft. “We look forward to bringing together the strengths and expertise of both teams to build a company with the size and scale to deliver exceptional value for our customers, drive sustainable growth, and create long-term shareholder value.”
