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(a)
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Amount beneficially owned: Collectively,
the Reporting Persons beneficially own 1,895,864 shares of Common Stock, including 1,400,000 shares of Common Stock underlying currently exercisable warrants.
•Corsair Capital individually owns 1,571,657 shares
of Common Stock, including 1,160,000 shares of Common Stock underlying currently exercisable warrants.
•Corsair 100 individually owns 228,974 shares of
Common Stock, including 169,000 shares of Common Stock underlying currently exercisable warrants.
•Corsair Investors individually owns 95,233 shares
of Common Stock, including 71,000 shares of Common Stock underlying currently exercisable warrants.
•Corsair Management, as the investment manager of
each of Corsair Capital, Corsair 100 and Corsair Investors is deemed to beneficially own 1,895,864
shares of Common Stock.
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•Mr. Petschek, as a controlling person of Corsair
Management, is deemed to individually beneficially own 1,895,864 shares of Common Stock.
•Mr. Major, as a controlling person of Corsair
Management, is deemed to individually beneficially own 1,895,864 shares of Common Stock.
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(b)
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Percent of class: Collectively, the Reporting Persons beneficially own 1,895,864 shares of Common Stock, representing 6.8% of
all of the outstanding shares of Common Stock based on the 26,585,730 outstanding shares of Common Stock as reported on the Issuer’s Form 10-Q filed November 14, 2023, plus, with respect to each Reporting Person, the number of shares of
Common Stock underlying currently exercisable warrants held by such Reporting Person as indicated in Item 4(a) above. The total number of shares of Common Stock underlying currently exercisable warrants held by the Reporting Persons in the
aggregate, is 1,400,000.
Corsair Capital’s individual ownership of 1,571,657 shares of Common Stock, including 1,160,000 shares of Common Stock
underlying currently exercisable warrants, represents 5.7% of all the outstanding shares of Common Stock.
Corsair 100’s individual ownership of 228,974 shares of Common Stock, including 169,000 shares of Common Stock underlying
currently exercisable warrants, represents less than 1% of all the outstanding shares of Common Stock.
Corsair Investors’ individual ownership of 95,233 shares of Common Stock, including 71,000 shares of Common Stock underlying
currently exercisable warrants, represents less than 1% of all the outstanding shares of Common Stock.
Corsair Management’s beneficial ownership of 1,895,864 shares of Common Stock represents 6.8% of all the outstanding shares of
Common Stock.
The 1,895,864 shares of Common Stock deemed to be beneficially owned by Mr. Petschek represents 6.8% of all the outstanding
shares of Common Stock.
The 1,895,864 shares of Common Stock deemed to be beneficially owned by Mr. Major represents 6.8% of all the outstanding shares
of Common Stock.
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(ii)
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Shared power to vote or to direct the vote.
Corsair Capital, Corsair Management, Mr. Petschek and Mr. Major have shared power to vote or direct the vote for 1,571,657
shares of common Stock owned by Corsair Capital.
Corsair 100, Corsair Management, Mr. Petschek and Mr. Major have shared power to vote or direct the vote for 228,974 shares of
common Stock owned by Corsair 100.
Capital Investors, Corsair Management, Mr. Petschek and Mr. Major have shared power to vote or direct the vote for 95,233 shares
of common Stock owned by Corsair Investors.
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