Battery Ventures Holds 52.5% of Electro-Sensors Post-Merger

On April 20, 2026, Electro-Sensors, Inc. (ELSE) entered into a Merger Agreement with steute Industrial Controls, Inc. and its subsidiary, which are affiliates of Battery Ventures. In connection with this merger, several major shareholders and directors of the Issuer, collectively referred to as the Voting Parties, entered into Voting Agreements. Under these agreements, the Voting Parties have agreed to vote their shares, totaling 1,939,258 shares of Common Stock (representing approximately 52.5% of the outstanding shares), in favor of the merger. Consequently, Jesse Feldman and other entities associated with Battery Ventures (the Reporting Persons) may be deemed to have shared voting power over these shares, although they disclaim beneficial ownership and have no rights as shareholders or power to dispose of the shares. The shares included in this total consist of 1,861,758 shares of Common Stock, 60,000 shares issuable upon stock option exercises, and 17,500 shares from restricted stock units. This filing marks a significant move toward the acquisition of Electro-Sensors, Inc. by the Battery Ventures affiliates.