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Superior Industries (OTC Pink:SSUP), a global wheel manufacturer, has announced a definitive agreement to be acquired by a group of term loan investors led by Oaktree Capital Management. The transformative transaction will significantly reduce the company's debt burden by nearly 90%, from $982 million to approximately $125 million.
Under the agreement terms, investors will convert up to $550 million of term loan claims into 96.5% of the new equity. Common stockholders will receive $3.1 million in cash, while preferred stockholders will get $6.2 million in cash plus 3.5% of the new equity. The transaction, supported by shareholders representing 40% of voting power, is expected to close in Q3 2025, after which Superior will become private.
Superior Industries International (NYSE:SUP), a leading aluminum wheel supplier, has received a delisting notice from the New York Stock Exchange on June 24, 2025. The NYSE has suspended trading of Superior's common stock immediately due to the company falling below the required $15 million average global market capitalization threshold over a 30-day trading period.
The company will not appeal the delisting determination. Superior's stock is expected to begin trading on the OTC Markets Group's Pink Open Market under the ticker symbol "SSUP" starting June 25, 2025.
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