SSG Capital Advisors (“SSG”) served as the investment banker to Ideanomics, Inc., and subsidiaries (collectively “Ideanomics” or the “Company”) in the sale of substantially all assets of WAVE Charging to Tillou Management and Consulting LLC (“Tillou”). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Delaware and closed in March 2025.

Ideanomics is a global EV company focused on driving the adoption of electric commercial vehicles and associated sustainable energy consumption. Ideanomics, Inc. is the parent company to several subsidiaries in the EV industry, including WAVE Charging, VIA Motors, and Solectrac. The Company’s thesis behind the portfolio was to provide turnkey vehicle, finance, leasing, and energy management services for commercial fleet operators across the world.

In response to liquidity issues, the Company engaged in various divestiture and restructuring initiatives with the goal of consolidating around WAVE Charging. However, the Company remained undercapitalized and filed for relief under Chapter 11 of the United States Bankruptcy Code in December 2024.

SSG was retained to conduct a marketing process and facilitate the Stalking Horse bid from Tillou, and then to solicit competing offers to Tillou's bid. After extensive outreach to a broad universe of potential strategic and financial acquirers, the Stalking Horse credit bid submitted by Tillou (McMahon family office) as the DIP lender for WAVE Charging and select other assets was determined to be the highest and best offer. SSG's vast experience with Chapter 11 transactions and ability to efficiently execute a comprehensive remarketing process ensured that the sale to Tillou optimized value for Ideanomics' stakeholders.

Other professionals who worked on the transaction include:

• Alpesh A. Amin, Chief Restructuring Officer of Ideanomics, Rick Malagodi, Michael Flynn, and Anthony Mittiga of Riveron Consulting, LLC., financial advisor to Ideanomics, Inc.;

• John A. Simon, Mark T. Plichta, Timothy C. Mohan, and Jake W. Gordon of Foley & Lardner LLP, co-counsel to Ideanomics, Inc.;

• Ricardo Palacio and Gregory A. Taylor of Ashby & Geddes, PA., co-counsel to Ideanomics, Inc.;

• Frank F. Velocci, Bryan E. Bloom, and Michael P. Pompeo of Faegre Drinker Biddle & Reath LLP, counsel to Tillou Management and Consulting LLC; and

• Brendan Joyce and Alicia Masse of B. Riley Financial, financial advisor to Tillou Management and Consulting LLC.