Merger of The Shyft Group with Aebi Schmidt

The Shyft Group (NASDAQ: SHYF), a US-based specialty vehicle manufacturer and Aebi Schmidt Group, a Swiss producer of municipal and agricultural machinery, announced their combination in an all-stock merger with the shares in Shyft being exchanged for new shares in Aebi Schmidt and the combined company becoming listed at the NASDAQ stock exchange. At closing, Shyft shareholders will own 48% and Aebi Schmidt shareholders will own 52% of the combined company. Closing of the transaction is expected by mid-2025, subject to regulatory and shareholders' approvals.

Lenz & Staehelin advises Shyft Group on this transaction.