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Cooper Standard Announces Fully Backstopped Private Offering of New First Lien Notes and Private Exchange Offer and Consent Solicitation for Existing Senior Notes as Part of Refinancing Transactions

Cooper Standard

Cooper-Standard Holdings Inc. (NYSE: CPS) (“CPS”) today announced the commencement by CPS’ wholly-owned subsidiary, Cooper Standard Automotive Inc. (the “Issuer”), of (i) a fully backstopped private offering (the “Concurrent Notes Offering”) of $580.0 million aggregate principal amount of the Issuer’s newly issued 13.50% Cash Pay / PIK Toggle Senior Secured First Lien Notes due 2027 (the “New First Lien Notes”) to holders of the Issuer’s existing 5.625% Senior Notes due 2026 (the “2026 Senior Notes) or their designees, (ii) an offer (the “Exchange Offer”) to the holders of 2026 Senior Notes who participate in the Concurrent Notes Offering to exchange any and all of the Issuer’s $400.0 million aggregate principal amount of 2026 Senior Notes outstanding for the Issuer’s newly issued 5.625% Cash Pay / 10.625% PIK Toggle Senior Secured Third Lien Notes due 2027 (the “New Third Lien Notes”, and together with the New First Lien Notes, the “New Notes”) on a par-for-par basis and (iii) a consent solicitation (the “Consent Solicitation”) whereby the Issuer is soliciting, and holders of 2026 Senior Notes who tender pursuant to the Exchange Offer are required to deliver, consents to amend the indenture under which the 2026 Senior Notes were issued (the “2026 Senior Notes Indenture”) to remove substantially all of the covenants, certain events of default and certain other provisions contained in the 2026 Senior Notes and 2026 Senior Notes Indenture. In order to approve the amendment to the 2026 Notes Indenture, consents must be delivered and not revoked in respect of at least a majority of the outstanding principal amount of the 2026 Senior Notes (the “Requisite Consents”). Certain actual or beneficial holders of 2026 Senior Notes representing approximately 62.7% of the aggregate outstanding principal amount of 2026 Senior Notes (the “Backstop Parties”) have agreed to subscribe for such holders’ pro rata portion of New First Lien Notes in the Concurrent Notes Offering, tender their 2026 Senior Notes in the Exchange Offer and deliver their consents in the Consent Solicitation. In addition, the Backstop Parties have agreed to purchase 100% of the New First Lien Notes not otherwise purchased in the Concurrent Notes Offering pursuant to a backstop agreement (as amended, restated or otherwise modified in accordance with its terms, the “Backstop Agreement”) between the Issuer and the Backstop Parties, dated as of December 19, 2022. An eligible holder of 2026 Senior Notes must subscribe for $1,450 principal amount of New First Lien Notes pursuant to the Concurrent Notes Offering for a cash purchase price equal to 96.00% of the principal amount of New First Lien Notes subscribed for (the “Purchase Price”) in order to participate in the Exchange Offer with respect to each $1,000 principal amount of 2026 Senior Notes. In the Exchange Offer, eligible holders of 2026 Senior Notes will receive $1,000 principal amount of New Third Lien Notes (the “Exchange Consideration”) in exchange for $1,000 principal amount of 2026 Senior Notes properly tendered (and not validly withdrawn) and accepted by the Issuer, plus accrued and unpaid interest, if any, in cash on their exchanged 2026 Senior Notes up to, but not including, the Settlement Date (as defined below). The following table sets forth the Purchase Price and the amount of New First Lien Notes to be issued in the Concurrent Notes Offering and the total Exchange Consideration per $1,000 principal amount of 2026 Senior Notes if validly tendered and accepted for exchange in the Exchange Offer: The Concurrent Notes Offering, the Exchange Offer and the Consent Solicitation will expire one minute past 11:59 PM, New York City time, on January 18, 2023, unless earlier terminated or extended (the “Expiration Date”). Tenders of 2026 Senior Notes may not be withdrawn after one minute past 11:59 PM, New York City time, on January 10, 2022, unless extended (the “Withdrawal Deadline”), except in certain limited circumstances as set forth in the confidential offering memorandum and consent solicitation statement, dated December 19, 2022, issued in connection with the Concurrent Offering, Exchange Offer and Consent Solicitation (the “Offering Memorandum”). The Company plans to issue the New Notes promptly following the Expiration Date (the “Settlement Date”). The Issuer intends to use the proceeds from the Concurrent Notes Offering, together with cash on hand, to prepay the Issuer’s existing senior term loan facility, redeem its existing 13.000% Senior Secured Notes due 2024 and pay fees and expenses related to the Refinancing Transactions (as defined below) including a fee payable to the Backstop Parties as consideration for the Backstop Parties’ backstop commitments. The Issuer will not receive any cash proceeds from the issuance of New Third Lien Notes in the Exchange Offer. The Concurrent Notes Offering, the Exchange Offer and the Consent Solicitation are conditioned upon the satisfaction or waiver of the conditions set forth in the Offering Memorandum. Such conditions include, among other things, the receipt of the Requisite Consents, performance by the Backstop Parties of their obligations under the Backstop Agreement and effectiveness of the ABL Amendment described below. The consummation of the Concurrent Notes Offering is cross-conditioned on the consummation of the Exchange Offer and the Consent Solicitation. The Issuer reserves the right, subject to applicable law, (i) to waive any and all of the conditions of the Concurrent Notes Offering, the Exchange Offer or the Consent Solicitation on or prior to the Expiration Date and (ii) to amend or terminate the Concurrent Notes Offering, the Exchange Offer or the Consent Solicitation. The Issuer is making the Concurrent Notes Offering, the Exchange Offer and the Consent Solicitation only to eligible holders through, and pursuant to, the terms of the Offering Memorandum. None of the Issuer, the trustee of the 2026 Senior Notes, the trustees with respect to the New Notes, the dealer manager with respect to the Exchange Offer and Consent Solicitation, the Exchange and Subscription Agent (as defined below) or any affiliate of any of them, makes any recommendation as to whether (1) eligible holders of 2026 Senior Notes should subscribe to purchase New First Lien Notes or (2) eligible holders of 2026 Senior Notes should exchange 2026 Senior Notes for New Third Lien Notes and deliver consents in the Consent Solicitation, and no one has been authorized by any of them to make such a recommendation. Eligible holders of 2026 Senior Notes should read carefully the Offering Memorandum before making an investment decision to participate in the Concurrent Notes Offering, the Exchange Offer and the Consent Solicitation. In addition, eligible holders of 2026 Senior Notes must make their own decisions as to whether to participate in the Concurrent Notes Offering, tender their 2026 Senior Notes in the Exchange Offer and provide the consent in the related Consent Solicitation. Certain subsidiaries of CPS, including the Issuer, CS Intermediate Holdco 1 LLC (“Holdings”), Cooper-Standard Automotive Canada Limited and Cooper-Standard Automotive International Holdings B.V. entered into Amendment No. 3 to Third Amended and Restated Loan Agreement (the “Amended Credit Agreement”) with certain lenders, Bank of America, N.A., as agent, and other parties thereto (the “ABL Amendment” and, together with the Concurrent Notes Offering, the Exchange Offer, the Consent Solicitation, the entry into the Backstop Agreement and the application of proceeds of the Concurrent Notes Offering as set forth in the Offering Memorandum, the “Refinancing Transactions”), which Amended Credit Agreement will, upon its effectiveness on the Settlement Date, among other things, permit the consummation of the Refinancing Transactions. The Refinancing Transactions may not be consummated on the terms described in this press release or at all. The complete terms and conditions of the Refinancing Transactions are set forth in the Offering Memorandum. Only eligible holders may receive a copy of the Offering Memorandum and participate in the Concurrent Notes Offering, the Exchange Offer and the Consent Solicitation. The Exchange and Subscription Agent is Kroll Restructuring Administration LLC d/b/a Kroll Issuer Services (US) (“Kroll” or the “Exchange and Subscription Agent”). Questions concerning the Refinancing Transactions or requests for additional copies of the Offering Memorandum or other related documents may be directed to Kroll at CooperStandard@is.kroll.com. Eligible holders of 2026 Senior Notes who desire to obtain and complete a subscription form should also contact the Exchange and Subscription Agent at the email address above. Eligible holders of 2026 Senior Notes should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Concurrent Notes Offering, the Exchange Offer and the Consent Solicitation. This communication is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security and does not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Concurrent Notes Offering and the Exchange Offer are being made, and the New Notes are being offered and issued, pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), only to (a) in the United States to holders of 2026 Senior Notes who are “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and (b) outside the United States to holders of 2026 Senior Notes who are persons other than U.S. persons. The holders of 2026 Senior Notes who have certified to us that they are eligible to participate in the Concurrent Notes Offering and the Exchange Offer are referred to as “eligible holders.” Forward Looking Statements This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Our use of words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “outlook,” “guidance,” “forecast,” or future or conditional verbs, such as “will,” “should,” “could,” “would,” or “may,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, we cannot assure you that these expectations, beliefs and projections will be achieved. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. Among other items, such factors may include: Impacts, including our ability to complete the Refinancing Transactions; commodity cost increases and disruptions related to the war in Ukraine and the current COVID-related lockdowns in China; our ability to offset the adverse impact of higher commodity and other costs through negotiations with our customers; the impact, and expected continued impact, of the COVID-19 outbreak on our financial condition and results of operations; significant risks to our liquidity presented by the COVID-19 pandemic risk; prolonged or material contractions in automotive sales and production volumes; our inability to realize sales represented by awarded business; escalating pricing pressures; loss of large customers or significant platforms; our ability to successfully compete in the automotive parts industry; availability and increasing volatility in costs of manufactured components and raw materials; disruption in our supply base; competitive threats and commercial risks associated with our diversification strategy through our Advanced Technology Group; possible variability of our working capital requirements; risks associated with our international operations, including changes in laws, regulations, and policies governing the terms of foreign trade such as increased trade restrictions and tariffs; foreign currency exchange rate fluctuations; our ability to control the operations of our joint ventures for our sole benefit; our substantial amount of indebtedness and variable rates of interest; our ability to refinance our indebtedness and obtain adequate financing sources in the future; operating and financial restrictions imposed on us under our debt instruments; the underfunding of our pension plans; significant changes in discount rates and the actual return on pension assets; effectiveness of continuous improvement programs and other cost savings plans; manufacturing facility closings or consolidation; our ability to execute new program launches; our ability to meet customers’ needs for new and improved products; the possibility that our acquisitions and divestitures may not be successful; product liability, warranty and recall claims brought against us; laws and regulations, including environmental, health and safety laws and regulations; legal and regulatory proceedings, claims or investigations against us; work stoppages or other labor disruptions; the ability of our intellectual property to withstand legal challenges; cyber-attacks, data privacy concerns, other disruptions in, or the inability to implement upgrades to, our information technology systems; the possible volatility of our annual effective tax rate; the possibility of a failure to maintain effective controls and procedures; the possibility of future impairment charges to our goodwill and long-lived assets; our ability to identify, attract, develop and retain a skilled, engaged and diverse workforce; our ability to procure insurance at reasonable rates; and our dependence on our subsidiaries for cash to satisfy our obligations; and other risks and uncertainties, including those detailed from time to time in periodic reports filed by CPS with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date of this press release and we undertake no obligation to publicly update or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except where we are expressly required to do so by law. This press release also contains references to estimates and other information that are based on industry publications, surveys and forecasts. This information involves a number of assumptions and limitations, and we have not independently verified the accuracy or completeness of the information. # # # Contact Details Contact for Analysts: Roger Hendriksen +1 248-596-6465 roger.hendriksen@cooperstandard.com Contact for Media: Chris Andrews +1 248-596-6217 candrews@cooperstandard.com Company Website https://www.cooperstandard.com/

December 19, 2022 06:48 PM Eastern Standard Time

News Release

How Computerized Cars Have Changed Auto Repair in Today’s World

AutoTech IQ

In the not-so-distant past, all auto technicians needed was a good understanding of a car’s engine. They would listen to and feel the car’s engine, and most often, they could diagnose and fix a problem. But today’s cars are more complex, and the average technician has to rely on diagnostic and test equipment to understand what’s going on under the hood. Today’s cars have hundreds or even thousands of computer chips that are all controlled by software. Cars have evolved so much that some people believe that in the near future, an increasing number of cars will be powered by self-driving software. Trends Computerized Cars Are Setting Remember when automatic car windows replaced the roll-up model? Auto technicians all over the world had to switch from a mindset of fixing a busted manual knob to fixing one that is not only driven by a motor but also controlled by a computer. As cars become more computerized, auto repair shops have to stay current on more technology. High-Tech Features Mean Specialists Are Needed for Repairs In today’s auto repair world, technicians have to use complex diagnose and test equipment instead of focusing on just replacing fluids and car parts. That’s because cars aren’t so much mechanical machines anymore. Instead, they are often thought of as computers on wheels. Gone are the days when people could work on their own cars. Today, specialized software is needed to find the glitch in the car’s system before it can be repaired. Complicated Network Systems Are More Interconnected Than Ever Before The cars of yesterday had individual, mechanical working parts that, together, made them run. But today’s cars are interconnected in ways that old-school technicians could never imagine. Vehicles today utilize advanced driver-assistance systems (ADAS) and their computers are extremely complex, yet they all communicate seamlessly with each other. For instance, Tesla’s onboard AI chip is smarter than the US Air Force’s F-35 fight jet and is packed with 150 million times more computer power. Because of the technological advances in vehicles, it’s extremely important for technicians to have a thorough understanding of how to properly calibrate the systems so drivers remain safe on the road. Costs Are Rising Because of the Complexity of High-Tech Vehicles Because of the complexity of computerized cars, the number of visits to auto repair shops has radically decreased but the cost per visit is going up and changing the way auto shops do business. For instance, car owners sporting European models can’t just go to any repair shop, they need technicians who specialize in their make and model of vehicle. This makes car repairs on a budget a thing of the past. The increased need for specialized equipment and technicians has driven up the cost of running a shop, and as cars continue to become more computerized, that isn’t likely to change. Auto shops also have to have specialized equipment to help diagnose issues. If these shops don’t specialize in one vehicle make and if they don’t have the equipment, they will hire diagnosticians who will help diagnose the issues. This also drives up the cost of doing business. Why Digital Inspections Are Essential for Computerized Car Owners Because cars are so complex and rely on computers, service intervals have increased dramatically. The frequency of shop visits is going down which requires tracking the vital sign of your vehicle regularly. What you know from your doctor’s visit is also true for your vehicle. Digital inspections are the tool to track the car’s vital signs. They allow technicians to check the car's computer system and overall health and pinpoint the source of a potential problem. When a service advisor emails a customer a digital report that outlines the problem and details the optimal fix, it instills a sense of trust in consumers because of images and videos educating the customer plus recommendations giving the customers options. Gone are the days when consumers are pressured into making a decision on the phone without understanding the true nature of the problem. Digital inspections eliminate the risk of paying for an unnecessary repair. Instead, these inspections pinpoint the problem and educate the customer about options on how to fix it. How To Find an Auto Repair Shop You Can Trust Are you ready to have more of a partnership with your auto repair shop rather than having to trust a phone call without any real evidence? If so, AutoTechIQ can help. AutoTechIQ connects you with an auto repair shop in your area that focuses on your education about the best options based on Digital Vehicle Health Inspection results. This allows you to work with shops to find the best (and most long-term economical) solution when your car needs repair. It also ensures that your shop is held accountable and does not suggest repairs that are not needed. To find an auto repair shop that makes use of this technology, use the Shops Near You function on AutoTechIQ’s website and schedule an appointment with an auto shop that wants to earn your trust. This post contains sponsored advertising content. This content is for informational purposes only. Contact Details AutoTech IQ +1 866-678-8505 support@AutoTechIQ.com Company Website https://www.autotechiq.com/

December 19, 2022 03:54 PM Eastern Standard Time

News Release

Have You Noticed How Your Auto Repair Shop Has Changed?

AutoTech IQ

Just a few decades ago, the vast majority of cars had mechanically controlled engines and transmissions, anti-lock braking systems (ABS) were a brand-new thing, and everything was gas or, to a much lesser degree, diesel-powered. The best fuel efficiency for an affordable car was 18 miles per gallon (mpg), and the best-selling cars were Honda Accord, Ford Taurus and Chevrolet Cavalier. Once a vehicle was out of warranty, most car owners would take it to an independent auto repair shop. The leading factors for choosing a shop were the distance to the client's home or work, customer service quality and service price compared with a dealership. Since then, much has changed, but some has not. Today, car owners still take their vehicles to independent auto repair shops for the same reasons. But the technology built into cars has changed dramatically. Much of the operations are computerized, creating a fuel efficiency of 35 mpg and higher for cars that are not hybrid or electric. That technology shift created new challenges and opportunities for independent auto repair shops, changing many aspects of their business. Challenges and Opportunities for Independent Auto Repair Shops Because of the complexity of computerized cars, tools in auto repair shops now include diagnostic devices with ever-increasing depth giving technicians the ability to pinpoint the cause of a problem. And just like your home computer prompts you to update its software applications, modern cars’ software can be updated. Because dozens of complex computers in a car interact with each other, they require trained staff and authorized programming tools. Some dealerships imply that only factory-trained techs lay hands on the complex cars they service, but independent auto repair shops with a built-in training program aren’t lagging behind them. The digital transformation is in full swing for car technology and auto shop service advisers are improving communications with on-the-go car owners. That communication isn't restricted to appointment scheduling by text or email. Advisers can educate their customers without having them on the phone or at the counter. The perfect example is sending a state-of-health report to car owners illustrating, with edited images and videos, what work needs to happen now and what can wait. Why is Digital Transformation a Game Changer? The ease of use has made digital tools such as smartphones, desktop computers and tablets the dominant way to communicate. The ability to send information without interrupting the recipient at home or work takes the stress out of many interactions that could otherwise lead to a loss of focus, productivity and control. The ability to digest information on the recipients' schedule gives them control and creates a sense of empowerment to make confident decisions based on the options at hand. For example, the customer can ask questions digitally and get second opinions before approving work. Before contacting the shop, AutoTechIQ.com offers vehicle owners the opportunity to familiarize themselves with the symptoms the car is exhibiting. Articles like “ My Car Smells Like Burning Rubber ” offer a simple three-step path to: Confirm the symptom Add info for the shop with a simple click Request an appointment at an AutoTechIQ-certified shop You don't need a ride after dropping off your vehicle at the auto shop in the morning. Instead, an assigned employee picks it up and drops it off at your home or work after it’s repaired. You can schedule everything through text messages or with a digital app on your phone that will provide status notifications about the repair progress throughout the day. Instead of interruptions at work, you receive a link to your vehicle's state-of-health report. Then, you can study it on your timeline and ask questions before approving the proposed work — all through texts or chat messages. Increased Level of Professionalism Have you noticed that many shops don’t fly by the seat of their pants anymore? Today’s successful auto repair shops are professional businesses focusing on you — the customer — for the lifetime of your vehicle and beyond. Car repair and maintenance businesses have transitioned to professionally run establishments focused on the education and longevity of their customers’ vehicles instead of the transactional business model of repairing the issue at hand. Seasoned shop owners realize that they can replicate their customer service in other locations and establish a multilocation business providing consistent, high-quality service across the same area. Companies like Transformer Institute help shop owners — especially multilocation owners — seize the opportunity of providing higher-quality service to car owners, exceeding what wrenching technicians typically offer. This post contains sponsored advertising content. This content is for informational purposes only. Contact Details AutoTech IQ +1 866-678-8505 support@AutoTechIQ.com Company Website https://www.autotechiq.com/

December 19, 2022 03:29 PM Eastern Standard Time

Multipolar Development Corporation Early Modeling Success Paving Way for New Direct Current Electric Machine Prototype

Multipolar Development Corporation

Multipolar Development Corporation (MDC) an electrical engineering company announced a key design milestone in the development of its novel Multi-Polar Technology™ electric vehicle (EV) propulsion enhancement system. Models are proving that MDC’s patented technology will improve efficiencies in overall performance and range of operation, particularly in large consumer vehicle trucks and commercial transport vehicles. MDC engineers and partners are completing a finite element method (FEM) model for a 10 kW 2 kV prototype direct current (DC) electric machine that demonstrates the ability to operate at higher DC voltages and without the need for a commutator. “Multi-Polar represents one of the single greatest incremental improvements in motor technology I have seen in more than 25 years,” stated engineering expert and MDC team member Arie Hirshbein, “I am thrilled and excited to be part of the development team at this early stage.” “The machine analyzed could be operated like a one-phase brushless machine, providing an advantage in control that could provide flexibility at different operating points of the motor. Without a need for rare earth permanent magnets, Multipolar technology provides a huge advantage in the performance of the motor and avoids supply chain and environmental issues associated with permanent magnets currently utilized,” Hirshbein continued. “Since the failure and maintenance of commutators have made higher power of DC electric machines impractical, the success of our model bodes well for its future in an industrial setting,” stated Multipolar inventor Shaun McCutcheon. “The Multi-Polar design is expected to allow high motor torque performance, including a high starting torque, making it suitable for heavy industrial applications and large electric vehicles (EV’s).” “The modeling is paving the way for us to demonstrate and prove the gains in overall system efficiency that our technology achieves through a physical prototype. We are designing a prototype based on the current computer models and showcasing the significant practical use of the technology,” McCutcheon continued. MDC technology modeling employs an advanced software and firmware-based control system that adjusts the polarity and the magnetic field strength of each electromagnetic pole within an electric motor or generator to achieve the desired operation. The control system relies on sensor data about the position and speed of the rotor to optimize pole parameters in real-time to enhance performance. The FEM model simulates 42 and 78 poles within a rotating machine and provides a numerical solution for the electromagnetic fields and relevant voltages. Recent simulations achieved rectification of generator output exceeding 2000 V DC at speed with no brushes or commutator in the model, resulting in a significant proof of concept for the design. Multi-Polar motors will require fewer external drive components as the speed and torque are managed directly by the advanced control system. Unlike standard DC brushless machines, they will require only two power connections. The wide range of operational speeds at full power – owing to the ability to change the number of poles virtually – will allow MDC’s machines to be repurposed through software and firmware changes rather than being replaced or redesigned. The advanced control system will also be able to compensate for efficiency losses due to mechanical imperfections or damage. “Multipolar moves us into a truly digital machine age – an advanced machine without many of the inherent inefficiencies and limitations of classic electromagnetic energy conversion,” McCutcheon explained. “The modeling proves our technology has the potential to shock the EV industry and advance it to a new level of efficiency and performance.” Multipolar Development Corporation is an Austin, TX-based S-Corp comprised of energy, electric, and automotive engineering experts. ### Please visit: https://www.multipolarmachine.com/ For more information or to schedule an interview with Shaun McCutcheon, please contact Dan Rene of kglobal, at daniel.rene@kglobal.com or 202-329-8357 Contact Details kglobal Dan Rene +1 202-329-8357 daniel.rene@kglobal.com Company Website https://www.multipolarmachine.com/

December 19, 2022 10:30 AM Eastern Standard Time

Travel Technology Association Files Comments with U.S. Department of Transportation on Airline Ticket Refunds and Consumer Protections

Travel Tech

The Travel Technology Association (Travel Tech), the voice of the travel technology industry and a consistent advocate for public policy that supports a competitive and transparent marketplace, filed comments today in response to the Department of Transportation’s (DOT) Notice of Proposed Rulemaking (NPRM) on “Airline Ticket Refunds and Consumer Protections,” – Docket No. DOT-OST-2022-0089. "On behalf of consumers and our member companies that serve them, the Travel Technology Association is proud to stand with the U.S. Department of Transportation in assuring once and for all that airline travelers are made whole when their flights are canceled,” said Travel Tech President and CEO Laura Chadwick. “You get what you pay for, and when you don't, you should get your money back." "We welcome the Department's decision to define what constitutes a ‘canceled flight’ and ‘significant change to flight itinerary.’ These definitions will bring much-needed uniformity and clarity to what have been fraught and stressful experiences for travelers facing weather or airline staffing issues," Chadwick continued. "Great customer service, whether before, during, or after a trip, is key to the value Travel Tech members offer. These definitions will help online travel agents better support their customers navigating frustrating flight cancellations and the labyrinth of airline customer service systems." The Travel Technology Association’s full comments may be viewed at: https://www.traveltech.org/wp-content/uploads/2022/12/Comments-of-The-Travel-Technology-Association.pdf In its comments, the Travel Technology Association explains that ticket agents are already bound to issue refunds “promptly” after airlines provide the authorization and funds to do so. In its draft rule, the Department proposes that customers receive refunds within seven days. However, it takes up to eleven days to secure refunds from airlines' payment and refund systems. "To require refunds before the funds are returned by the airline – as the proposed rule currently demands – would impose an undue financial burden and risk on ticket agents. We encourage the Department to revise this part of its proposal to reflect that airlines’ payment and refund systems are beyond the control of ticket agents.” ### About Travel Tech The Travel Technology Association (Travel Tech) is the voice of the travel technology industry, advocating for public policy that promotes transparency and competition in the marketplace to encourage innovation and preserve consumer choice. Travel Tech represents the leading innovators in travel technology, including global distribution systems, online travel agencies and metasearch companies, travel management companies, and short-term rental platforms. To schedule an interview with a Travel Tech spokesperson, contact Dan Rene of kglobal at 202-329-8357 or daniel.rene@kglobal.com. Contact Details kglobal Dan Rene +1 202-329-8357 daniel.rene@kglobal.com Company Website https://www.traveltech.org.

December 19, 2022 10:15 AM Eastern Standard Time

CleverTap appoints Satyadeep Mishra as Chief Human Resources Officer

CleverTap

CleverTap, the World's #1 Retention Cloud today announced the appointment of Satyadeep Mishra as their new Chief Human Resources Officer. He joins from the hospitality-technology platform, OYO where he worked as the Chief Human Resources Officer for its technology, product, global functions and international markets teams. With over two decades of experience working with the likes of Jio, Barclays and Bajaj Finserv among others, Satya brings with him a demonstrable history of leading teams and conceptualizing innovative HR strategies across domains of talent acquisition, training & development, and performance management. He also played a pivotal role in the transformational growth journey of Jio’s core telecom and digital initiatives. “We are excited to have Satya onboard. Having nurtured some of the industry’s leading experts, quality talent has always been a top priority for CleverTap. And with Satya’s immense experience, I have no doubt that he will lead our People Strategy and continue to build on our culture which puts employees first, as we go from strength to strength in our journey as global MarTech leaders”, said Sidharth Malik, Chief Executive Officer, CleverTap. “It's an absolute pleasure to be part of such a dynamic and exuberant team. The growth of CleverTap over the past few years is a testament to the capabilities and dedication of everybody involved with the team. The roles that HR functions play, not just in people strategy, but even in business, have become significant for more companies, especially within the era of work from anywhere. I am elated to be working with like-minded individuals that understand the importance of retaining and nurturing bright talent. I am confident that together, we can scale new heights and break conventional barriers while creating value not only for our customers but also for our employees the world over”, said Satyadeep Mishra, Chief Human Resource Officer, CleverTap. About CleverTap CleverTap is the World's #1 Retention Cloud that helps app-first brands personalize and optimize all consumer touch points to improve user engagement, retention, and life-time value. It's the only solution built to address the needs of retention and growth teams, with audience analytics, deep-segmentation, multi-channel engagement, product recommendations, and automation in one unified product.The platform is powered by TesseractDB™ - world’s first purpose-built database for customer engagement, offering both speed and economies of scale. CleverTap is trusted by 1500 customers, including Gojek, ShopX, Electronic Arts, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco. Backed by leading investors such as Sequoia India, Tiger Global, Accel, and CDPQ the company is headquartered in Mountain View, California, with presence in San Francisco, New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Singapore, and Jakarta. For more information, visit clevertap.com or follow on LinkedIn and Twitter. Forward-Looking Statements Some of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction Contact Details Sony Shetty sony@clevertap.com Company Website https://clevertap.com/

December 19, 2022 07:59 AM Eastern Standard Time

Murgado Automotive Group Acquires Honda and Acura Dealerships in North Chicago

Murgado Automotive Group

Murgado Automotive Group CEO Mario Murgado today announced the acquisition of Honda and Acura dealerships from Pauly Motors, Inc. in North Chicago. The renamed Honda Libertyville and Acura Highland Park represent Murgado’s second expansion into the Greater Chicago market as his dealership group purchased Honda of Downtown Chicago and Volkswagen of Downtown Chicago in 2017. Both have grown into top-performing dealerships. Murgado Automotive Group now represents 18 dealer franchises in Miami, Chicago, and New Jersey. The sale closed on December 5, 2022. Pauly Motors has a rich history in the area, opening and successfully operating one of the first Honda motorcycle stores in the area and later opening one of the first Honda dealerships in Chicago. The organization expanded to other brands, including Acura, and has an excellent reputation in the industry. Honda of Libertyville and Acura Highland Park are now open to the public and have already sold and serviced their first vehicles under the new ownership. Minimal staffing changes were announced. Murgado said he is grateful for the opportunity to acquire the dealerships and is optimistic that he and his team will grow the business with the assistance of many of the wonderful, long-time employees of the dealerships. He said that Murgado Automotive Group will be making a large investment in both dealerships, including sales, service, parts, and other departments. The group also believes streamlining marketing, training, and other systems and process will add efficiencies. “I want to thank Tom Pauly and the entire team at Pauly Motors for the opportunity to acquire two tremendous dealerships,” said Murgado. “We will make a significant investment in the dealerships and the neighboring communities, as we are excited to expand into North Chicago.” Murgado Automotive Group was founded in Miami, Fla. in 2001 and currently owns dealerships representing many of the world’s top automotive brands including Acura, Alfa Romeo, Audi, Bentley, Buick, Cadillac, Ferrari, GMC, Honda, Infiniti, Maserati, Mazda, and Volkswagen. More information is available at MurgadoAutomotiveGroup.com. Contact Details David PR Group John P. David +1 305-724-3903 john@davidpr.com

December 14, 2022 02:27 PM Eastern Standard Time

This Company Is Looking To Replace Long Commutes With Accessible Personal Air Travel

LIFT Aircraft

Interested in the opportunity to invest? Click here to get started! In the early 1900s, Ford Motor Company ’s (NYSE: F) Model T car democratized driving by making cars affordable for all. Now LIFT Aircraft is spreading its wings to democratize flight and make air travel accessible without requiring an expensive and time-consuming pilot license or certification. The company is currently making a Reg A+ offering of common stock. The average person commutes in their car for an hour every day. These commutes – the vast majority of which are 15 miles or less – translate into wasted time, and expensive fuel costs, and also have a measurable impact on decreased workplace innovation and income lost to commute time. Concerns around transportation also include climate change emissions. Transportation accounts for the largest segment of greenhouse gas (GHG) emissions in the US, with lightweight and medium-to-heavy vehicles making up 83% of all transportation emissions. Safe Drone Flights Without Expensive Pilot Certification LIFT Aircraft is attempting to revolutionize travel, making flight available to all with its electrical, vertical takeoff and landing (eVTOL) aircraft, HEXA. Through this human-scale drone, the company plans to deliver personal, point-to-point travel to the urban air mobility (UAM) market currently worth $2.2 billion. As ultralights, HEXA aircraft don’t require expensive and time-consuming pilot certification under Federal Aviation Administration (FAA) Part 103. This means that about one hour of training - including ground school and virtual reality (VR) flight simulator training - is enough for most to be able to fly these straightforward aircraft. The company is starting by providing recreational flights out of its vertiport locations, however, LIFT’s vision is that these ultralights will eventually provide a viable alternative to cars for most commuters. Designed for short-range flights and capable of speeds of 90 mph, HEXA could be perfectly suited to replace commutes of 15 miles or less, which account for 85% of all traveling in the US. The company has simplified procedures to make HEXA – which has zero CO 2 emissions – simple and straightforward to fly. Equipped with a triply redundant autopilot computer, autopilot capabilities, and automatic wind-speed adjustments, the aircraft is easily flown with a single, 3-axis joystick. Meanwhile, all of LIFT’s recreational flights are monitored by trained professionals able to take remote control of the aircraft in case of emergency. LIFT doesn’t seem to be taking any shortcuts when it comes to safety. The company says it self-regulates its aircraft according to rigorous FAA safety guidelines to ensure maximum safety compliance for its aircraft. LIFT’s safety advisory board includes Dr. Charles Justiz, a leading expert in aircraft safety and former Chief of Aviation Safety at the National Aeronautics and Space Administration (NASA). The company’s commitment to making flight both accessible and as safe as possible means that almost anyone can fly without the prohibitive cost of expensive certification. After what it says was a highly successful Reg CF fundraise, LIFT has now launched a Reg A+ stock offering. Interested in the opportunity to invest? Click here to get started! Learn more about LIFT Aircraft by visiting its website. Austin, Texas-based LIFT Aircraft is leading the Advanced Air Mobility (AAM) revolution. LIFT is working with the US Air Force and first response organizations to utilize their aircraft for defense and public service while also launching the world’s first flight training and pay-per-flight operation centers business, based on an entirely new type of personal, electric vertical takeoff and landing (eVTOL) aircraft. HEXA, LIFT Aircraft’s multi-rotor, amphibious, ultralight vehicle democratizes the experience of piloting an aircraft, making the joy and utility of personal, vertical flight accessible to all. Find out more at www.liftaircraft.com Benzinga may receive monetary compensation from the issuer, or its agency, for publicizing the offering of the issuer's securities. This content is for informational purposes only and is not intended to be investing advice. This is a paid ad. Please see 17b disclosure linked in the campaign page for more information. LIFT Aircraft's Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA / SIPC.This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view LIFT's offering circular and risks associated with this offering. Contact Details Kenny Miller, CFO Kenny@LIFTAircraft.com

December 14, 2022 08:15 AM Eastern Standard Time

Growth In Metals Mining Could Be Key To Achieving Energy Independence

Surge Battery Metals

In the era of clean energy, the battery metals used in electric vehicles may have become the new oil, making investing in a domestic battery supply chain — from mine to battery — a critical step toward U.S. energy independence. But the U.S. has a long way to go to meet the demand for the metals used to power electric vehicles (EVs). Under the Inflation Reduction Act, the U.S. government is spending billions of dollars on energy transition, including through EV purchase incentives, to help the Biden Administration achieve its goal of 50% of new car sales to be zero emissions by 2030. Beginning in 2023 and 2024, consumers purchasing EVs are eligible for the following tax credits: · $4,000 for used EVs · $7,500 for new North American EVs · Up to $7,500 for commercial EVs weighing less than 14,000 pounds · Up to $40,000 for commercial EVs weighing more than 14,000 pounds If projections are correct, the incentives will have the desired effect. U.S. EV sales are expected to accelerate in the years to 2030, according to the International Energy Agency (IEA). EVs currently displace more than 1 million barrels of oil use per day. By 2050, EVs and fuel-cell vehicles are expected to replace more than 21 million barrels per day, according to an investor presentation prepared by Surge Battery Metals Inc. (TSX-V: NILI) (OTC: NILIF) (FRA: DJ5), an exploration company focused on locating and developing high-value deposits of the clean energy battery metals that are vital to the rapidly growing EV market. Mining Capability Is Key To A Reliable Supply Chain As America manufactures more EVs, it also will need more mines to supply the metals used to make the batteries that power them. The average electric car contains 8.9 kilograms (kg) of lithium and 39.9 kg of nickel. Based on the projected production of EVs and the estimated amount of metals needed to power them, the production of the metals to meet demand seems to be lagging. In 2021, the U.S produced 900 tons of lithium and 18,000 tons of nickel, far short of the projected need of 155,928 tons of lithium by 2030 and 699,048 tons of nickel by 2030, according to a report prepared by Surge Battery Metals. The U.S. currently relies on battery metal imports, while China dominates metal refining and battery production. Canada-based Surge Metals could be part of the solution. The company is focused on exploring North American deposits of lithium and nickel, and is already exploring lithium deposits at its mine in Elko County, Nevada, and nickel deposits at its mine in British Columbia. Surge Battery Metals Inc. is a Canadian based exploration company focused on locating and developing high value deposits of clean energy battery metals that are vital to the rapidly growing electric vehicle (EV) market. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Investor Relations info@surgebatterymetals.com Company Website https://surgebatterymetals.com

December 14, 2022 08:00 AM Eastern Standard Time