Reservoir Confirms Receipt of Non-Binding Proposal from Wesbild and Richmond Hill

Core Viewpoint - Reservoir Media, Inc. has received an unsolicited, preliminary non-binding acquisition proposal from shareholders Richmond Hill Investment Co., LP and Wesbild, Inc. to acquire all outstanding shares not already owned by them at a price of $10.50 per share in cash [1] Group 1: Acquisition Proposal - The proposal is from Wesbild/Richmond, which aims to acquire all outstanding shares of Reservoir Media [1] - The proposed acquisition price is $10.50 per share in cash [1] - Reservoir's Board of Directors has formed a Special Committee to evaluate this proposal and other alternatives [1] Group 2: Evaluation Process - The Special Committee consists of independent and disinterested directors [1] - The Committee will also consider a non-binding indication of interest from Irenic Capital Management, LP [1] - The goal is to determine the best course of action for the Company and its shareholders [1]