On May 17, 2018, Trinity Merger Corp. consummated its initial public offering (“IPO”) of 34,500,000 units, including the issuance of 4,500,000 Units as a result of the underwriter’s exercise of its over-allotment option in full. In connection with the IPO, effective on May 15, 2018, Richard F. Wacker, Catherine Luke and Warren R. de Haan (collectively, the “Independent Directors”) were appointed to the board of directors of the company. Also effective on May 15, 2018, each of the Independent Directors was also appointed to the Board’s Audit Committee and Compensation Committee, with Mr. Wacker serving as chair of both the Audit Committee and the Compensation Committee. Following the appointment of the Independent Directors, the Board is comprised of the following three classes: the first class of directors, Class I, which consists of Warren R. de Haan, and has a term of office that will expire at the Company’s first annual meeting of stockholders; the second class of directors, Class II, which consists of Richard F. Wacker and Catherine Luke, and has a term of office that will expire at the Company’s second annual meeting of stockholders; and the third class of directors, Class III, which consists of Lee S. Neibart and Sean A. Hehir, and has a term of office that will expire at the company’s third annual meeting of stockholders.