Throughout this process, Flowserve worked diligently and proactively to address all of the concerns that were raised by the French government. We were optimistic about the acquisition of Velan and the numerous benefits this would provide for both companies and their stakeholders. We sincerely appreciate the efforts of our Flowserve associates and Velan team members who worked so tirelessly on the transaction. We remain excited about the future of Flowserve and will continue to aggressively pursue our 3D strategy." Flowserve and Velan previously extended the outside date (the "Outside Date") of the arrangement agreement made as of February 9, 2023, among Velan, 14714750 Canada Inc. and Flowserve US Inc., as amended (the "Arrangement Agreement") to October 7, 2023.