Ford believes the recapitalization will provide value, flexibility, liquidity, and alignment for Ford stockholders, and tie Ford management even more closely to the interests of Ford stockholders. Ford believes that its stock is undervalued, limiting, among other things, the Company’s ability to use its stock for acquisitions or to attract, retain or incentivize employees. Ford believes the recapitalization will highlight its cash reserves and cash flow generating capacity, which have not been adequately reflected in its stock price.