Shyft shareholders approve merger with Aebi Schmidt (99% of votes); closing expected July 1, 2025

Aebi Schmidt Holding AG

Shyft shareholders approved merger with 99% of shares voted (~81% of outstanding).
Combined company named Aebi Schmidt Group; Aebi Schmidt to hold 52% stake, listed on NASDAQ as AEBI.
Transaction expected to close around July 1, 2025; combined turnover ~$2B, adj. EBITDA ~$200M.
CEO Barend Fruithof to continue as CEO and become Vice-Chairman; Peter Spuhler to hold 35% stake.
Board to have 6 members from Aebi Schmidt, 5 from Shyft; headquarters stays in Frauenfeld, Switzerland.

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