Item 4 — Purpose of Transaction
The Reporting Persons acquired the Shares in the belief that the Shares were undervalued and represent an attractive investment opportunity. The Reporting Persons have engaged, and intend to continue to engage, in discussions with the Issuer's management and Board of Directors (the "Board") regarding the Issuer's business, operations, capital allocation, capital structure, strategy and governance, and ways in which shareholder value may be enhanced. Nachum Klugman is conducting such discussions on behalf of the Reporting Persons. Gabrielle Philipson is not participating in such discussions. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending upon various factors, including the Issuer's financial position and strategic direction, the outcome of the discussions referenced above, actions taken by the Board, the price levels of the Shares, general market and economic conditions and other investment opportunities, the Reporting Persons may take such actions as they deem appropriate, including purchasing additional Shares or disposing of some or all of the Shares in open-market transactions, privately negotiated transactions or otherwise; communicating with other shareholders; making proposals to the Issuer concerning its capitalization, operations, governance or strategy; or changing their intention with respect to any of the matters referred to in subparagraphs (a) through (j) of Item 4.