STOCK TITAN

[8-K] Radius Recycling, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Dare Bioscience, Inc. (DARE) filed a Form 4 disclosing the grant of 4,500 non-qualified stock options to independent director Jessica D. Grossman on 07/09/2025. The options carry an exercise price of $2.44 per share and expire on 07/09/2035.

Vesting terms: The award vests in full on the earlier of (i) the first anniversary of the grant date or (ii) immediately prior to the company’s first annual shareholder meeting following the grant. Full acceleration occurs upon a change in control, provided the director remains on the board.

Post-grant holdings: Following this transaction, Dr. Grossman beneficially owns 4,500 derivative securities (stock options) and no change was reported for common shares in Table I, indicating the grant is additive rather than a sale.

Governance context: Routine equity compensation for directors aligns incentives with shareholder interests but results in a modest potential dilution of approximately 0.01% of outstanding shares, assuming ~45 million shares outstanding (company total not provided in filing). No cash was exchanged and there is no immediate earnings impact.

Dare Bioscience, Inc. (DARE) ha presentato un Modulo 4 comunicando la concessione di 4.500 opzioni azionarie non qualificate alla direttrice indipendente Jessica D. Grossman in data 09/07/2025. Le opzioni prevedono un prezzo di esercizio di 2,44 $ per azione e scadono il 09/07/2035.

Termini di maturazione: Il premio matura completamente al verificarsi del primo tra (i) il primo anniversario della data di concessione o (ii) immediatamente prima della prima assemblea annuale degli azionisti successiva alla concessione. La maturazione completa avviene in caso di cambio di controllo, a condizione che la direttrice rimanga nel consiglio di amministrazione.

Detenzioni post-concessione: A seguito di questa operazione, la dott.ssa Grossman detiene beneficiariamente 4.500 titoli derivati (opzioni azionarie) e non sono state segnalate variazioni nelle azioni ordinarie nella Tabella I, indicando che la concessione è aggiuntiva e non una vendita.

Contesto di governance: La compensazione azionaria ordinaria per i direttori allinea gli interessi con quelli degli azionisti, ma comporta una modesta diluizione potenziale di circa lo 0,01% delle azioni in circolazione, assumendo circa 45 milioni di azioni totali (dato non fornito nel documento). Non è stato scambiato denaro e non vi è alcun impatto immediato sugli utili.

Dare Bioscience, Inc. (DARE) presentó un Formulario 4 revelando la concesión de 4,500 opciones sobre acciones no calificadas a la directora independiente Jessica D. Grossman el 09/07/2025. Las opciones tienen un precio de ejercicio de $2.44 por acción y vencen el 09/07/2035.

Términos de adquisición: La adjudicación se consolida en su totalidad al ocurrir lo primero entre (i) el primer aniversario de la fecha de concesión o (ii) inmediatamente antes de la primera junta anual de accionistas de la compañía posterior a la concesión. La aceleración total ocurre en caso de cambio de control, siempre que la directora permanezca en la junta.

Posiciones tras la concesión: Tras esta transacción, la Dra. Grossman posee beneficiariamente 4,500 valores derivados (opciones sobre acciones) y no se reportaron cambios en las acciones comunes en la Tabla I, lo que indica que la concesión es adicional y no una venta.

Contexto de gobernanza: La compensación accionaria rutinaria para directores alinea los incentivos con los intereses de los accionistas, pero resulta en una dilución potencial modesta de aproximadamente el 0.01% de las acciones en circulación, asumiendo unas 45 millones de acciones en circulación (dato no proporcionado en el informe). No se intercambió efectivo y no hay impacto inmediato en las ganancias.

Dare Bioscience, Inc. (DARE)는 2025년 7월 9일 독립 이사 Jessica D. Grossman에게 4,500개의 비자격 스톡 옵션 부여를 공시하는 Form 4를 제출했습니다. 옵션의 행사가격은 주당 $2.44이며 만료일은 2035년 7월 9일입니다.

권리 취득 조건: 수여된 권리는 (i) 수여일로부터 1주년 또는 (ii) 수여 후 회사의 첫 연례 주주총회 직전 중 빠른 시점에 전액 취득됩니다. 이사가 이사회에 남아 있는 경우 인수합병 시 전액 가속 취득이 발생합니다.

수여 후 보유 현황: 이번 거래 이후 Grossman 박사는 4,500개의 파생증권(스톡 옵션)을 유리하게 보유하고 있으며, 표 I의 보통주에는 변동이 없어 이번 수여가 매도가 아닌 추가임을 나타냅니다.

거버넌스 맥락: 이사에 대한 일상적인 주식 보상은 주주 이익과 인센티브를 일치시키지만, 약 4,500만 주(서류에 총 주식 수 미기재) 기준으로 약 0.01%의 미미한 희석 효과가 발생합니다. 현금 거래는 없었으며 즉각적인 수익 영향은 없습니다.

Dare Bioscience, Inc. (DARE) a déposé un Formulaire 4 révélant l’octroi de 4 500 options d’achat d’actions non qualifiées à l’administratrice indépendante Jessica D. Grossman le 09/07/2025. Les options ont un prix d’exercice de 2,44 $ par action et expirent le 09/07/2035.

Conditions d’acquisition : La totalité de la récompense devient acquise au premier des deux événements suivants : (i) le premier anniversaire de la date d’octroi ou (ii) immédiatement avant la première assemblée générale annuelle des actionnaires suivant l’octroi. Une acquisition accélérée complète intervient en cas de changement de contrôle, à condition que l’administratrice reste au conseil.

Détentions après octroi : Suite à cette opération, le Dr Grossman détient à titre bénéficiaire 4 500 titres dérivés (options d’achat d’actions) et aucun changement n’a été signalé pour les actions ordinaires dans le tableau I, indiquant que l’octroi est additionnel et non une vente.

Contexte de gouvernance : La rémunération en actions habituelle pour les administrateurs aligne les incitations sur les intérêts des actionnaires, mais entraîne une dilution potentielle modeste d’environ 0,01 % des actions en circulation, en supposant environ 45 millions d’actions en circulation (total non précisé dans le dépôt). Aucun échange d’argent n’a eu lieu et il n’y a aucun impact immédiat sur les bénéfices.

Dare Bioscience, Inc. (DARE) reichte am 09.07.2025 ein Formular 4 ein, in dem die Gewährung von 4.500 nicht qualifizierten Aktienoptionen an die unabhängige Direktorin Jessica D. Grossman offengelegt wurde. Die Optionen haben einen Ausübungspreis von 2,44 $ pro Aktie und laufen am 09.07.2035 ab.

Vesting-Bedingungen: Die Auszeichnung wird vollständig fällig, je nachdem, was zuerst eintritt: (i) der erste Jahrestag des Gewährungsdatums oder (ii) unmittelbar vor der ersten jährlichen Hauptversammlung der Aktionäre nach der Gewährung. Eine vollständige Beschleunigung erfolgt bei einem Kontrollwechsel, vorausgesetzt, die Direktorin bleibt im Vorstand.

Bestände nach Gewährung: Nach dieser Transaktion hält Dr. Grossman wirtschaftlich 4.500 derivative Wertpapiere (Aktienoptionen) und es wurden keine Änderungen bei den Stammaktien in Tabelle I gemeldet, was darauf hinweist, dass die Gewährung zusätzlich und kein Verkauf ist.

Governance-Kontext: Die routinemäßige Aktienvergütung für Direktoren bringt die Anreize mit den Interessen der Aktionäre in Einklang, führt jedoch zu einer moderaten potenziellen Verwässerung von etwa 0,01 % der ausstehenden Aktien, basierend auf ca. 45 Millionen ausstehenden Aktien (Gesamtzahl im Bericht nicht angegeben). Es wurde kein Bargeld ausgetauscht und es gibt keine unmittelbare Auswirkung auf die Gewinne.

Positive
  • Alignment of interests: Equity-based compensation incentivises the director to focus on long-term share appreciation.
  • Shareholder-friendly size: 4,500 options represent a very small percentage of outstanding shares, limiting dilution.
Negative
  • Change-in-control acceleration: Single-trigger vesting could allow the director to realize full value without post-deal service.
  • Potential dilution: Any option issuance slightly increases fully diluted share count.

Insights

TL;DR – Routine director option grant; negligible financial impact.

The 4,500-share option grant to Director Grossman is standard board compensation. At a $2.44 strike, value is contingent on future price appreciation. Dilution is immaterial and there is no cash cost today, so the event is neutral for valuation. It marginally improves governance alignment by linking pay to performance, but does not alter the company’s strategic outlook or liquidity.

TL;DR – Grant strengthens pay-for-performance; governance terms are shareholder-friendly.

The one-year vesting schedule with change-in-control acceleration is typical for small-cap boards and keeps director interests aligned with investors. The single-trigger acceleration could raise minor concerns during M&A scenarios but is not uncommon. Overall, compensation levels appear modest, supporting good governance practices without excessive dilution.

Dare Bioscience, Inc. (DARE) ha presentato un Modulo 4 comunicando la concessione di 4.500 opzioni azionarie non qualificate alla direttrice indipendente Jessica D. Grossman in data 09/07/2025. Le opzioni prevedono un prezzo di esercizio di 2,44 $ per azione e scadono il 09/07/2035.

Termini di maturazione: Il premio matura completamente al verificarsi del primo tra (i) il primo anniversario della data di concessione o (ii) immediatamente prima della prima assemblea annuale degli azionisti successiva alla concessione. La maturazione completa avviene in caso di cambio di controllo, a condizione che la direttrice rimanga nel consiglio di amministrazione.

Detenzioni post-concessione: A seguito di questa operazione, la dott.ssa Grossman detiene beneficiariamente 4.500 titoli derivati (opzioni azionarie) e non sono state segnalate variazioni nelle azioni ordinarie nella Tabella I, indicando che la concessione è aggiuntiva e non una vendita.

Contesto di governance: La compensazione azionaria ordinaria per i direttori allinea gli interessi con quelli degli azionisti, ma comporta una modesta diluizione potenziale di circa lo 0,01% delle azioni in circolazione, assumendo circa 45 milioni di azioni totali (dato non fornito nel documento). Non è stato scambiato denaro e non vi è alcun impatto immediato sugli utili.

Dare Bioscience, Inc. (DARE) presentó un Formulario 4 revelando la concesión de 4,500 opciones sobre acciones no calificadas a la directora independiente Jessica D. Grossman el 09/07/2025. Las opciones tienen un precio de ejercicio de $2.44 por acción y vencen el 09/07/2035.

Términos de adquisición: La adjudicación se consolida en su totalidad al ocurrir lo primero entre (i) el primer aniversario de la fecha de concesión o (ii) inmediatamente antes de la primera junta anual de accionistas de la compañía posterior a la concesión. La aceleración total ocurre en caso de cambio de control, siempre que la directora permanezca en la junta.

Posiciones tras la concesión: Tras esta transacción, la Dra. Grossman posee beneficiariamente 4,500 valores derivados (opciones sobre acciones) y no se reportaron cambios en las acciones comunes en la Tabla I, lo que indica que la concesión es adicional y no una venta.

Contexto de gobernanza: La compensación accionaria rutinaria para directores alinea los incentivos con los intereses de los accionistas, pero resulta en una dilución potencial modesta de aproximadamente el 0.01% de las acciones en circulación, asumiendo unas 45 millones de acciones en circulación (dato no proporcionado en el informe). No se intercambió efectivo y no hay impacto inmediato en las ganancias.

Dare Bioscience, Inc. (DARE)는 2025년 7월 9일 독립 이사 Jessica D. Grossman에게 4,500개의 비자격 스톡 옵션 부여를 공시하는 Form 4를 제출했습니다. 옵션의 행사가격은 주당 $2.44이며 만료일은 2035년 7월 9일입니다.

권리 취득 조건: 수여된 권리는 (i) 수여일로부터 1주년 또는 (ii) 수여 후 회사의 첫 연례 주주총회 직전 중 빠른 시점에 전액 취득됩니다. 이사가 이사회에 남아 있는 경우 인수합병 시 전액 가속 취득이 발생합니다.

수여 후 보유 현황: 이번 거래 이후 Grossman 박사는 4,500개의 파생증권(스톡 옵션)을 유리하게 보유하고 있으며, 표 I의 보통주에는 변동이 없어 이번 수여가 매도가 아닌 추가임을 나타냅니다.

거버넌스 맥락: 이사에 대한 일상적인 주식 보상은 주주 이익과 인센티브를 일치시키지만, 약 4,500만 주(서류에 총 주식 수 미기재) 기준으로 약 0.01%의 미미한 희석 효과가 발생합니다. 현금 거래는 없었으며 즉각적인 수익 영향은 없습니다.

Dare Bioscience, Inc. (DARE) a déposé un Formulaire 4 révélant l’octroi de 4 500 options d’achat d’actions non qualifiées à l’administratrice indépendante Jessica D. Grossman le 09/07/2025. Les options ont un prix d’exercice de 2,44 $ par action et expirent le 09/07/2035.

Conditions d’acquisition : La totalité de la récompense devient acquise au premier des deux événements suivants : (i) le premier anniversaire de la date d’octroi ou (ii) immédiatement avant la première assemblée générale annuelle des actionnaires suivant l’octroi. Une acquisition accélérée complète intervient en cas de changement de contrôle, à condition que l’administratrice reste au conseil.

Détentions après octroi : Suite à cette opération, le Dr Grossman détient à titre bénéficiaire 4 500 titres dérivés (options d’achat d’actions) et aucun changement n’a été signalé pour les actions ordinaires dans le tableau I, indiquant que l’octroi est additionnel et non une vente.

Contexte de gouvernance : La rémunération en actions habituelle pour les administrateurs aligne les incitations sur les intérêts des actionnaires, mais entraîne une dilution potentielle modeste d’environ 0,01 % des actions en circulation, en supposant environ 45 millions d’actions en circulation (total non précisé dans le dépôt). Aucun échange d’argent n’a eu lieu et il n’y a aucun impact immédiat sur les bénéfices.

Dare Bioscience, Inc. (DARE) reichte am 09.07.2025 ein Formular 4 ein, in dem die Gewährung von 4.500 nicht qualifizierten Aktienoptionen an die unabhängige Direktorin Jessica D. Grossman offengelegt wurde. Die Optionen haben einen Ausübungspreis von 2,44 $ pro Aktie und laufen am 09.07.2035 ab.

Vesting-Bedingungen: Die Auszeichnung wird vollständig fällig, je nachdem, was zuerst eintritt: (i) der erste Jahrestag des Gewährungsdatums oder (ii) unmittelbar vor der ersten jährlichen Hauptversammlung der Aktionäre nach der Gewährung. Eine vollständige Beschleunigung erfolgt bei einem Kontrollwechsel, vorausgesetzt, die Direktorin bleibt im Vorstand.

Bestände nach Gewährung: Nach dieser Transaktion hält Dr. Grossman wirtschaftlich 4.500 derivative Wertpapiere (Aktienoptionen) und es wurden keine Änderungen bei den Stammaktien in Tabelle I gemeldet, was darauf hinweist, dass die Gewährung zusätzlich und kein Verkauf ist.

Governance-Kontext: Die routinemäßige Aktienvergütung für Direktoren bringt die Anreize mit den Interessen der Aktionäre in Einklang, führt jedoch zu einer moderaten potenziellen Verwässerung von etwa 0,01 % der ausstehenden Aktien, basierend auf ca. 45 Millionen ausstehenden Aktien (Gesamtzahl im Bericht nicht angegeben). Es wurde kein Bargeld ausgetauscht und es gibt keine unmittelbare Auswirkung auf die Gewinne.


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): July 10, 2025

Commission File Number 000-22496

RADIUS RECYCLING, INC.
(Exact name of registrant as specified in its charter)

OREGON
 
93-0341923
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
 
 
 
222 SW Columbia Street, Suite 1150, Portland, Oregon
 
97201
(Address of principal executive offices)
 
(Zip Code)

(503) 224-9900
(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
Class A Common Stock, $1.00 par value
 
RDUS
  The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Introductory Note
 
This Current Report on Form 8-K is being filed in connection with the completion of the transactions contemplated by the previously announced Agreement and Plan of Merger, dated as of March 13, 2025 (the “Merger Agreement”), by and among Radius Recycling, Inc., an Oregon corporation (“Radius”), Toyota Tsusho America, Inc., a New York corporation (“Parent”), and TAI Merger Corporation, a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”). On July 10, 2025, pursuant to the Merger Agreement, Merger Sub merged with and into Radius (the “Merger”), the separate corporate existence of Merger Sub ceased, and Radius was the surviving corporation in the Merger (the “Surviving Corporation”) and, as a result, is now a wholly owned subsidiary of Parent.
 
Item 1.02
Termination of a Material Definitive Agreement.
 
The information set forth under Item 2.01 of this Current Report on Form 8-K is incorporated by reference into this Item 1.02.
 
In connection with the completion of the Merger, on July 10, 2025, all outstanding obligations in respect of principal, interest and fees under that certain Third Amended and Restated Credit Agreement, dated as of April 6, 2016 (as amended on each of August 24, 2018, June 30, 2020, August 22, 2022, June 17, 2024, January 3, 2025 and June 16, 2025 and as further amended, restated, supplemented or otherwise modified from time to time, the “Company Credit Facility”), among Radius (as U.S. borrower), Schnitzer Steel Canada Ltd. (as Canadian borrower), Bank of America, N.A. (as administrative agent, swing line lender and an L/C issuer), Bank of Montreal (as the Canadian lender), the U.S. lenders party thereto from time to time and the guarantors party thereto from time to time, were repaid, all commitments under the Company Credit Facility were terminated and all liens and guarantees granted in connection therewith were released.

Item 2.01
Completion of Acquisition or Disposition of Assets.
 
The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 2.01.

On the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the Merger (the “Effective Time”), and as a result of the Merger, each share of Class A common stock, par value $1.00 per share, of Radius (“Radius Class A Common Stock”) and Class B common stock, par value $1.00 per share, of Radius (“Radius Class B Common Stock” and together with Radius Class A Common Stock, “Radius Common Stock”) that was issued and outstanding immediately prior to the Effective Time was converted into the right to receive $30.00 in cash (the “Merger Consideration”), without interest, and less any applicable withholding taxes.

In addition, pursuant to the Merger Agreement, immediately prior to the Effective Time, with respect to outstanding equity-based awards granted under the Schnitzer Steel Industries, Inc. 1993 Stock Incentive Plan, as amended and restated as of November 7, 2013, or the Radius Recycling, Inc. 2024 Omnibus Incentive Plan, as each may be amended from time to time (collectively, the “Radius Stock Plans”): (i) each outstanding restricted stock unit award subject solely to time-based vesting conditions granted under a Radius Stock Plan (“Radius RSU Award”) became fully vested and was cancelled and converted into the right to receive an amount in cash equal to the sum of (a) the product of (x) the Merger Consideration, multiplied by (y) the total number of shares of Radius Common Stock subject to such Radius RSU Award (or portion thereof), plus (b) any accrued and unpaid dividends or dividend equivalent rights corresponding to such Radius RSU Award, (ii) each outstanding restricted stock unit award subject to performance-based vesting conditions granted under a Radius Stock Plan (“Radius PSU Award”) became fully vested and was cancelled and converted into the right to receive an amount in cash equal to the product of (a) the Merger Consideration, multiplied by (b) the total number of shares of Radius Common Stock subject to the Radius PSU Award (or portion thereof), calculated based on the greater of (x) actual performance, calculated with the applicable performance period running through the last day of Radius’ most recently completed quarter prior to the Effective Time and (y) deemed target level of performance, and (iii) each outstanding deferred stock unit award held by a member of Radius’ board of directors and granted under a Radius Stock Plan (“Radius DSU Award”) became fully vested and was cancelled and converted into the right to receive an amount in cash equal to the sum of (a) the product of (x) the Merger Consideration, multiplied by (y) the total number of shares of Radius Common Stock subject to such Radius DSU Award (or portion thereof), plus (b) any accrued and unpaid dividends or dividend equivalent rights corresponding to such Radius DSU Award.


The foregoing description of the Merger Agreement and Merger is not complete and is qualified in its entirety by reference to the Merger Agreement, which was filed as Exhibit 2.1 to Radius’ Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on March 14, 2025, and is incorporated into this item by reference.

Item 3.01
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
 
The information set forth in the Introductory Note and Item 2.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.01.

On July 10, 2025, in connection with the closing of the Merger, Radius notified the Nasdaq Global Market (“Nasdaq”) of the completion of the Merger and requested that Nasdaq (i) suspend trading of Radius Class A Common Stock on Nasdaq before the opening of trading on July 11, 2025 and (ii) file a notification of removal from listing on Form 25 with the SEC to delist Radius Class A Common Stock from Nasdaq and deregister the Radius Class A Common Stock under Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). As a result, Radius Class A Common Stock will no longer be listed on Nasdaq.
 
In addition, after effectiveness of the Form 25, Radius intends to file with the SEC a Certification and Notice of Termination of Registration on Form 15 requesting the termination of registration of the Shares under Section 12(g) of the Exchange Act and the suspension of Radius’ reporting obligations under Section 13 and 15(d) of the Exchange Act with respect to the shares of Radius Class A Common Stock.

Item 3.03
Material Modification to Rights of Security Holders.
 
The information set forth in the Introductory Note and Items 2.01, 3.01, 5.01 and 5.03 of this Current Report on Form 8-K is incorporated into this Item 3.03 by reference.

Item 5.01
Changes in Control of Registrant.
 
The information set forth in the Introductory Note and Items 2.01, 5.02 and 5.03 of this Current Report on Form 8-K is incorporated into this Item 5.01 by reference.
 
At the Effective Time, a change of control of Radius occurred. Merger Sub merged with and into Radius, the separate corporate existence of Merger Sub ceased, and Radius was the surviving corporation in the Merger and, as a result, is now a wholly owned subsidiary of Parent.

Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
The information set forth in the Introductory Note and Item 2.01 of this Current Report on Form 8-K is incorporated by reference into this Item 5.02.
 
Upon the Effective Time, in accordance with the terms of the Merger Agreement, all of the directors of Radius ceased to be directors. No director was terminated or resigned because of any disagreement with Radius, its management or its board of directors on any matter relating to its operations, policies or practices.
 
Upon the Effective Time, in accordance with the terms of the Merger Agreement, the directors of Merger Sub as of immediately prior to the Effective Time became the directors of the Surviving Corporation and shall hold office until their respective successors are duly elected and qualified, or their earlier death, incapacitation, retirement, resignation or removal, in each case, in accordance with the articles of incorporation and bylaws of the Surviving Corporation. The directors of Merger Sub immediately prior to the Effective Time were Masaharu Katayama, Naoyuki Hata, Hideyuki Iwamoto, Akihiro Sago and John Maraia.
 

Upon the Effective Time, in accordance with the terms of the Merger Agreement, all of the officers of Radius ceased to be officers of Radius. No officer was terminated or resigned because of any disagreement with Radius, its management or its board of directors on any matter relating to its operations, policies or practices.
 
Upon the Effective Time, in accordance with the terms of the Merger Agreement, the officers of Merger Sub as of immediately prior to the Effective Time became the officers of the Surviving Corporation and shall hold office until their respective successors are duly elected and qualified, or their earlier death, incapacitation, retirement, resignation or removal, in each case, in accordance with the articles of incorporation and bylaws of the Surviving Corporation. The sole officer of Merger Sub immediately prior to the Effective Time was Masaharu Katayama (President, Treasurer, Vice President and Secretary).

Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
 
The information set forth under the Introductory Note and Item 2.01 of this Current Report on Form 8-K is incorporated into this Item 5.03 by reference.
 
In connection with the closing of the Merger, Radius’ certificate of incorporation was amended and restated in its entirety (the “Amended and Restated Certificate of Incorporation”) and Radius’ bylaws were amended and restated in their entirety (the “Amended and Restated Bylaws”).
 
Copies of the Amended and Restated Certificate of Incorporation and the Amended and Restated Bylaws are filed as Exhibits 3.1 and 3.2, respectively, to this Current Report on Form 8-K, and are incorporated into this Item 5.03 by reference.

Item 8.01
Other Events.
 
On July 10, 2025, Radius and Parent issued a joint press release announcing the completion of the Merger. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01
Financial Statements and Exhibits.
 
(d)
Exhibits

Exhibit
 
Description
     
2.1
 
Agreement and Plan of Merger, dated as of March 13, 2025, by and among Radius Recycling, Inc., Toyota Tsusho America, Inc. and TAI Merger Corporation (incorporated by reference to Exhibit 2.1 to Radius’ Current Report on Form 8-K filed on March 14, 2025)
3.1
 
Amended and Restated Certificate of Incorporation of Radius Recycling, Inc.
3.2
 
Amended and Restated Bylaws of Radius Recycling, Inc.
99.1
 
Press Release of Radius Recycling, Inc. and Toyota Tsusho America, Inc., dated July 10, 2025
104
 
The cover page from this Current Report on Form 8-K, formatted in iXBRL (Inline eXtensible Business Reporting Language)


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
RADIUS RECYCLING, INC.
 
(Registrant)
     
Dated: July 10, 2025
By:
/s/ James Matthew Vaughn
   
Name: James Matthew Vaughn
   
Title: Senior Vice President, General Counsel,
Chief Compliance Officer and Secretary



FAQ

What did Dare Bioscience (DARE) disclose in the July 9, 2025 Form 4?

The company granted 4,500 stock options to director Jessica D. Grossman at a $2.44 exercise price.

When do the DARE director options vest?

They vest fully on the earlier of one year from grant or immediately prior to the next annual shareholder meeting, with acceleration upon a change in control.

What is the expiration date of the newly granted DARE options?

The options expire on 07/09/2035, providing a 10-year exercise window.

Does the Form 4 report any sale of Dare Bioscience common stock?

No. Table I shows no transactions in common shares; only an option grant is reported.

How might the option grant affect Dare Bioscience shareholders?

Dilution is minimal (~0.01% if 45 million shares outstanding) and aligns director incentives with share price performance.
Radius Recycling Inc

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