Approximately twenty employees work at the facility. The Company expects to sell the manufacturing facility and the underlying real property but has not entered into a contract of sale as of the date of this report.

The Company expects to incur pre-tax non-recurring charges of approximately $66 million under the plan, of which approximately $65 million is expected to be impairment charges relating to fixed asset and inventory write-downs and approximately $1 million is expected to be cash expenditures, including employee-related costs, severance and other termination-related costs.

The Company expects to incur the majority of these charges in the fourth quarter of 2024 and the remaining charges in subsequent fiscal periods through the fourth quarter of fiscal 2025.