Stoneridge Business Update Conference Call Summary Company Overview - **Company**: Stoneridge - **Segment Sold**: Control Devices - **Acquirer**: CenterRock Capital Partners, a private equity investment firm Key Points and Arguments Sale of Control Devices Segment - The sale was completed on January 30th for a base purchase price of **$59 million**, approximately **five times** the expected 2025 Adjusted EBITDA for the segment [4][6] - The total consideration will include adjustments for delivered working capital as of the transaction date [4] - Manufacturing facilities in **Lexington, Ohio**, and **Suzhou, China**, were included in the sale, while the **Juarez, Mexico** facility will be retained to support North American electronics business [4][5] Transition and Support - A transition services agreement and supply agreements were established to ensure a smooth transition of ownership [5] - Stoneridge will provide parts from the Juarez facility during the transition, and CenterRock will supply electronics parts from its Suzhou facility [5] Strategic Focus Post-Sale - The sale allows Stoneridge to concentrate on its highest growth and return businesses, reducing organizational complexity [5][6] - The remaining portfolio will focus on advanced technologies and electronic solutions for global commercial vehicle and off-highway markets [8] - Stoneridge aims to expand its **Vision and Safety** systems, including products like **MirrorEye** and **Connected Trailer** technologies [8][9] Growth Expectations - Stoneridge expects to achieve a **5-year Compound Annual Growth Rate (CAGR)** of **8%-12%** through 2030, significantly outpacing average end market growth by **2-3 times** [12] - The company is focused on new product development and expanding existing products into larger platforms [12] Financial Strategy - Net proceeds from the sale will be used to reduce debt and related interest expenses, creating immediate value for shareholders [6][14] - The company plans to amend its existing credit facility to align with its streamlined operations and future growth expectations [14] Operational Efficiency - Stoneridge is focused on gross margin expansion through quality-related cost improvements and material cost reductions [13] - The transaction is expected to streamline operations and redefine structural cost requirements [13] Future Outlook - Stoneridge is positioned to leverage its global footprint for growth, particularly in Brazil, where record OEM awards are anticipated [10][11] - The company is committed to a strong balance sheet and will provide updated guidance in early March [14] Additional Important Information - The call included a Q&A session where questions about tax implications, debt management, and operational reductions were addressed [17][18][20] - The company expressed excitement about the opportunities created by the transaction and its potential to drive long-term shareholder value [27]

Core Viewpoint - Keros Therapeutics has decided to discontinue the development of cibotercept for pulmonary arterial hypertension (PAH) following safety concerns and will undergo corporate restructuring to align with strategic priorities [1][3][5]. TROPOS Trial Results - The TROPOS trial was a Phase 2 clinical trial evaluating cibotercept in combination with background therapy for PAH, which was halted due to observed adverse events, specifically pericardial effusions [2][7]. - The company voluntarily stopped dosing in all treatment arms of the trial after safety reviews indicated new adverse events [2]. Corporate Restructuring - Keros plans to reduce its workforce by approximately 45%, resulting in a total of 85 full-time employees, which is expected to yield annualized cost savings of about $17 million [5][6]. - The restructuring is aimed at aligning operations with ongoing development programs and maximizing stockholder value [6]. Future Development Strategy - The company will evaluate the potential development of cibotercept for other indications after completing a strategic alternative review process [4][6]. - Keros is also exploring various strategic alternatives, including potential sale or business combinations, continued investment in its pipeline, and returning excess capital to stockholders [6]. Company Overview - Keros Therapeutics focuses on developing therapeutics targeting disorders linked to dysfunctional signaling of the TGF-ß family of proteins, with lead candidates including KER-065 for neuromuscular diseases and elritercept for cytopenias [8].