Form 4: Radius Recycling Completes Merger with Toyota Tsusho America, Director Disposes Shares

Radius Recycling, Inc. has completed its previously announced merger with Toyota Tsusho America, Inc., resulting in the company becoming a wholly-owned subsidiary and director Gregory R. Friedman disposing of all his Class A Common Stock.

Summary

• Radius Recycling, Inc. completed its merger with TAI Merger Corporation, a subsidiary of Toyota Tsusho America, Inc., on July 10, 2025.
• As a result of the merger, Radius Recycling, Inc. is now a wholly-owned subsidiary of Toyota Tsusho America, Inc.
• Each share of Radius Recycling's Class A and Class B common stock outstanding immediately prior to the merger was converted into the right to receive $30.00 in cash.
• Director Gregory R. Friedman disposed of 18,739.541 shares of Class A Common Stock at a price of $30.00 per share.
• Following the transaction, Gregory R. Friedman beneficially owns 0 shares of Radius Recycling, Inc. common stock.
• 9,607 unvested Company DSU Awards held by the director became immediately vested and were converted into cash based on the merger consideration plus any accrued dividends.

Sentiment

Score: 7

Explanation: The completion of the merger at a fixed cash price provides certainty and liquidity to shareholders, generally a positive outcome for those holding shares, despite the company no longer being publicly traded.

Positives

• Shareholders of Radius Recycling, Inc. received a cash consideration of $30.00 per share, providing liquidity and a defined value for their investment.
• Unvested Company DSU Awards were immediately vested and converted into cash, benefiting award holders.

Negatives

• Radius Recycling, Inc. is no longer a publicly traded company, removing it as an investment option for public market investors.

Future Outlook

Radius Recycling, Inc. is now a wholly-owned subsidiary of Toyota Tsusho America, Inc., and as such, its future outlook will be managed privately within the parent company's operations.

Industry Context

This merger represents a consolidation within the recycling industry, with a major global trading company, Toyota Tsusho, acquiring a significant player in the sector. Such acquisitions can lead to increased operational efficiencies and market integration within the acquiring entity's broader supply chain.

Stakeholder Impact

• Shareholders received $30.00 in cash per share for their holdings, providing a clear exit and return on investment.

Key Dates

Keywords

Merger, Acquisition, Radius Recycling, Toyota Tsusho America, SEC Form 4, Insider Transaction, Common Stock, DSU Awards, Delisting