Form 4: Radius Recycling Completes Merger with Toyota Tsusho America, Shareholders Receive $30 Per Share

Radius Recycling, Inc. has completed its previously announced merger with Toyota Tsusho America, Inc., resulting in the company becoming a wholly-owned subsidiary and shareholders receiving $30.00 in cash per share.

Summary

• Radius Recycling, Inc. completed its merger with TAI Merger Corporation, a subsidiary of Toyota Tsusho America, Inc., on July 10, 2025.
• Following 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, without interest and less applicable withholding taxes.
• All outstanding unvested Company DSU Awards became immediately vested at the effective time of the merger and were converted into a cash payment equal to the merger consideration multiplied by the number of shares subject to the DSU, plus any accrued and unpaid dividends.

Sentiment

Score: 8

Explanation: The sentiment is highly positive for shareholders as the merger completed as planned, providing a definitive cash payout at a pre-agreed price, and for DSU holders whose awards vested and converted to cash. The company's public trading status ceased, which is a neutral outcome for the market as a whole, but a definitive end for public investors.

Positives

• Shareholders received a cash payment of $30.00 per share, providing a clear exit value.
• Unvested Company DSU Awards immediately vested and were converted into cash, benefiting employees holding these awards.

Negatives

• Radius Recycling, Inc. ceased to be an independent publicly traded company, becoming a wholly-owned subsidiary.

Future Outlook

Radius Recycling, Inc. has become a wholly-owned subsidiary of Toyota Tsusho America, Inc., ceasing to be a publicly traded entity.

Industry Context

This transaction represents a consolidation within the recycling and materials industry, with a major global trading company, Toyota Tsusho, acquiring a significant player in the recycling sector.

Corporate Governance

Stakeholder Impact

• Shareholders received $30.00 in cash for each share of Class A and Class B Common Stock.
• Holders of unvested Company DSU Awards saw their awards immediately vest and convert into cash based on the merger consideration.

Key Dates

Keywords

Radius Recycling, RDUS, Toyota Tsusho America, Merger, Acquisition, Form 4, Insider Transaction, Common Stock, DSU, Recycling Industry