Brightline Capital Management, LLC

Brightline Capital Management, LLC, established in 2005 by Naval (Nick) Khera, manages two private funds, Brightline Capital Partners, L.P. and Brightline Capital Partners II, LP, with approximately $211 million in assets as of December 31, 2022. The firm's investment strategy focuses on a value-driven approach, rigorous fundamental analysis, and investing in companies with strong fundamentals at discounted prices. Clients, including ultra-high-net-worth individuals and family offices, invest a minimum of $1 million in the Fund. Brightline charges management fees based on capital account value and performance-based fees paid when an investor recoups net losses. The firm's investment process involves idea generation, analysis, and risk management, overseen by Mr. Khera and Elson Huang. Brightline emphasizes ethical standards, acting in clients' best interests, and has a fiduciary duty to clients. The firm has not been involved in legal or disciplinary events. Brightline's brokerage practices prioritize best execution and soft dollar arrangements compliant with regulations. The firm provides regular portfolio reviews, performance reports, and audited financial statements to clients. Brightline has custody procedures in place, annual audits, and maintains investment discretion for managing client funds. Proxy voting is conducted in the interest of maximizing shareholder value. Brightline has a clean financial record and no bankruptcy history.