Item 4 — Purpose of Transaction
The Reporting Person acquired the securities reported herein for investment purposes, subject to the following: The information set forth in Items 3 and 6 of this Schedule 13D is incorporated by reference in its entirety into this Item 4. The Reporting Person from time to time may enter into discussions with directors and officers of the Issuer, other stockholders, or third parties, including representatives of any of the foregoing, in connection with the Reporting Person's holdings in the Issuer. Such discussions may include one or more of management, the Board, other stockholders of the Issuer, and other persons to discuss the Issuer's business, operations, appointments to the Board, governance, performance, management, strategies, the Board's approach to strategic acquisitions and investments, the acquisition, divestment, or disposition of material assets, the financing of any of the forgoing, and other matters related to the Issuer. These discussions may include reviewing options or making proposals for enhancing or maximizing stockholder value through various strategic alternatives, including (i) changes to the capitalization, ownership structure, operations, or certificate of incorporation or bylaws of the Issuer; or (ii) strategic transactions or similar opportunities, and the matters described below. The Reporting Person continuously reviews and evaluates its investment in the Issuer and may, subject to the terms of the Investor Rights Agreement (as defined below) and depending on various factors, including, without limitation, the outcome of any discussions referenced above, the Issuer's financial position, operating results and strategic direction, general market and industry conditions, actions taken by the Board, price levels of the Issuer's securities, investment opportunities available to the Reporting Person, or other factors, take such actions with respect to the holdings in the Issuer as it deems appropriate, including: (i) formulate other purposes, plans, or proposals regarding the Issuer or any of its securities; (ii) purchase additional shares of Class A Common Stock, Series A Preferred Stock, other equity interests of the Issuer, warrants, options, or related derivatives in the open market or in privately negotiated transactions; (iii) exercise its right to convert Series A Preferred Stock and Class C Non-Voting Common Stock under the Investment Agreement; (iv) sell, pledge or otherwise dispose of all or a portion of the shares of Class A Common Stock, Series A Preferred Stock, other equity interests, warrants, options, or related derivatives now beneficially owned or hereafter acquired by them; (v) communicate with the Board, management, other stockholders of the Issuer, or other third parties from time to time; (vi) take steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical, and/or industry advisors, to assist in any review, and evaluating strategic alternatives as they become available; and (vii) engage in other plans or proposals as the Reporting Person may deem appropriate under the circumstances, including plans or proposals which may relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of Schedule 13D. In connection with these reviews and evaluations, the Reporting Person expects to engage in substantive discussions with, among others, the Board, management, other stockholders of the Issuer, or other third parties from time to time (including without limitation other stakeholders of the Issuer, potential acquirers, service providers and debt and equity financing sources), and may take other actions, concerning a potential extraordinary corporate transaction (including in connection with the Issuer's announcement dated December 9, 2025 that it is considering its strategic alternatives) or the business, operations, assets, strategy, future plans, prospects, corporate structure, Board composition, management, capitalization, dividend policy, charter, bylaws, corporate documents, agreements, de-listing or de-registration of the Issuer, which discussions may include making proposals and/or considering proposals and counterproposals. The Reporting Person may exchange information with any such persons or the Issuer pursuant to appropriate confidentiality or similar agreements which contain or may contain customary standstill provisions. The Reporting Person reserves the right to terminate any such discussions at any time for any reason. Any determination by the Reporting Person to proceed with a transaction would be subject to agreement by the parties on the terms of a transaction, undertaking and completing due diligence, negotiation of definitive agreements with the Issuer on terms mutually acceptable to the Reporting Person and such other persons, including the Issuer, and requisite internal approvals by the parties, inc