The Shyft Group Announces Effectiveness of Registration Statement on Form S-4 Filed by Aebi Schmidt Group and Filing of Definitive Proxy Statement for Proposed Merger

Core Points - The Shyft Group, Inc. is advancing towards a proposed merger with Aebi Schmidt Group, with significant regulatory milestones achieved as of May 2025 [1][2][3] - The merger is set to be voted on by Shyft shareholders at a special meeting scheduled for June 17, 2025, with the transaction expected to close in mid-2025, pending approval [2][3] - The combined entity will operate under the name "Aebi Schmidt Group" and will be listed on NASDAQ with the ticker symbol "AEBI" [3] Financial Overview - Pro forma combined U.S. GAAP financial results for 2024 indicate approximately $1.9 billion in revenue and $148 million in adjusted EBITDA for the merged business [2] - Shyft reported sales of $786 million in 2024, highlighting its position as a leader in specialty vehicle manufacturing [4] Company Background - The Shyft Group specializes in manufacturing, assembly, and upfit of specialty vehicles for commercial, retail, and service markets, serving a diverse customer base including government entities and utility sectors [4] - The company operates through two core business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™, employing around 2,900 individuals across multiple facilities in North America and Mexico [4]