<SEC-DOCUMENT>0001140361-25-017414.txt : 20250806
<SEC-HEADER>0001140361-25-017414.hdr.sgml : 20250806
<ACCEPTANCE-DATETIME>20250505215221
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001140361-25-017414
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20250505

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Aebi Schmidt Holding AG
		CENTRAL INDEX KEY:			0002048519
		STANDARD INDUSTRIAL CLASSIFICATION:	CONSTRUCTION MACHINERY & EQUIP [3531]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		SCHULSTRASSE 4
		CITY:			FRAUENFELD
		STATE:			V8
		ZIP:			8500
		BUSINESS PHONE:		41 (44) 308 5855

	MAIL ADDRESS:	
		STREET 1:		SCHULSTRASSE 4
		CITY:			FRAUENFELD
		STATE:			V8
		ZIP:			8500
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Soultions, Inc.
         Document created using Broadridge PROfile 25.3.2.5298
         Copyright 1995 - 2025 Broadridge -->
  </head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
    <div><img src="ny20046461x3_image01.jpg" height="44" width="241"></div>
    <div><br>
    </div>
    <div>May 5, 2025</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">VIA EDGAR</div>
    <div><br>
    </div>
    <div>Securities and Exchange Commission</div>
    <div>Division of Corporation Finance</div>
    <div>100 F Street, N.E.</div>
    <div>Washington, D.C. 20549-3720</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z84e23fda33ef4a43b60a359c8911c26c" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 58.5pt; vertical-align: top;">Attention:</td>
          <td style="width: auto; vertical-align: top;">
            <div><font style="color: #000000;">Joyce Sweeney</font><br>
              <font style="color: #000000;">Christine Dietz</font><br>
              <font style="color: #000000;">Marion Graham</font><br>
              <font style="color: #000000;">Matthew Derby</font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfe23cc54603647419ac3478accd9909b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 58.5pt; vertical-align: top; font-weight: bold;">Re:</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Aebi Schmidt Holding AG<br>
              Registration Statement on Form S-4<br>
              Filed April 4, 2025<br>
              File No. 333-286373</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Ladies and Gentlemen:</div>
    <div><br>
    </div>
    <div>This letter sets forth the responses of Aebi Schmidt Holding AG (&#8220;<font style="font-weight: bold;">Aebi Schmidt</font>&#8221;) to the comment letter, dated May 1, 2025, from the staff (the &#8220;<font style="font-weight: bold;">Staff</font>&#8221;) of the Division
      of Corporation Finance of the Securities and Exchange Commission (the &#8220;<font style="font-weight: bold;">Commission</font>&#8221;) relating to the Staff&#8217;s review of Aebi Schmidt&#8217;s Registration Statement on Form S-4 (File No. 333-286373) filed with the
      Commission on April 4, 2025 (the &#8220;<font style="font-weight: bold;">Registration Statement</font>&#8221;).</div>
    <div><br>
    </div>
    <div>On behalf of Aebi Schmidt, we concurrently are filing via EDGAR Amendment No. 1 to the Registration Statement (&#8220;<font style="font-weight: bold;">Amendment No. 1</font>&#8221;). Amendment No. 1, as filed via EDGAR, is marked as specified in Item 310 of
      Regulation S-T. All capitalized terms used but not otherwise defined herein have the respective meanings ascribed to such terms in Amendment No. 1.</div>
    <div><br>
    </div>
    <div>To assist the Staff in its review, we have included the text of the Staff&#8217;s comments below in italicized, bold type and have followed each comment with Aebi Schmidt&#8217;s response.</div>
    <div><br>
    </div>
    <div>Except as otherwise noted in this letter, the information provided in response to the Staff&#8217;s comments has been supplied by Aebi Schmidt, which is solely responsible for such information.</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <div><img src="ny20046461x3_image02.jpg" height="42" width="256"></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <br>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze32f58fb18dc44a681d1710e2a52bcca" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">Securities and Exchange Commission</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">Page <font class="BRPFPageNumber">2</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">May 5, 2025</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>Questions and Answers About the Merger and the Special Meeting, page 2</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbca6031c193b4e45adc12437af27d1dc" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: #000000; font-style: italic; font-weight: bold;">1.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-style: italic; font-weight: bold;">We note your disclosure that the interests of the directors and officers of Shyft in the transactions may differ from the interests of Shyft shareholders. Please provide a
              question and answer summarizing these interests, how those interests may differ from shareholders, and identify resulting risks. Your revised disclosure should include a cross reference to more information.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt;">Aebi Schmidt respectfully acknowledges the Staff&#8217;s comment. In response to the Staff&#8217;s comment<font style="color: #000000;">, </font>a question and answer summarizing the interests of the directors and officers of
      Shyft in the Transactions that may differ from the interests of Shyft shareholders, including a cross reference to more information, has been included in Amendment No. 1 (see page 2).</div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>Risk Factors, page 24</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdf9a260f4bf04c6bae56b52025936733" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: #000000; font-style: italic; font-weight: bold;">2.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-style: italic; font-weight: bold;">Please add a risk factor highlighting the risks of going public through a merger rather than an underwritten offering, as we note that this transaction would constitute the
              initial public offering of the combined company&#8217;s equity securities. These risks may include the absence of due diligence conducted by an underwriter that would be subject to liability for any material misstatements or omissions in a
              registration statement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt;">Aebi Schmidt respectfully acknowledges the Staff&#8217;s comment. In response to the Staff&#8217;s comment, a risk factor highlighting risks of going public through a merger rather than an underwritten offering, including the
      absence of due diligence conducted by an underwriter that would be subject to liability for any material misstatements or omissions in a registration statement pursuant to Section 11 of the Securities Act, has been included in Amendment No. 1 (see
      page 36).</div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>Aebi Schmidt has identified material weaknesses in its internal control over financial reporting . . ., page 40</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z111c9899ea3542d18adffeab59939bdf" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: #000000; font-style: italic; font-weight: bold;">3.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-style: italic; font-weight: bold;">We note that Aebi Schmidt identified several material weaknesses in its internal control over financial reporting in connection with the preparation of the consolidated
              financial statements as of and for the years December 31, 2024 and 2023. Please disclose here and on page 184 the timing of remediation activities and any material costs you have incurred or expect to incur.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt;">Aebi Schmidt respectfully acknowledges the Staff&#8217;s comment. In response to the Staff&#8217;s comment, Aebi Schmidt has added disclosure in Amendment No. 1 (see page 41 and page 187) regarding the timing of such remediation
      activities and any material costs Aebi Schmidt has incurred or expects to incur.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z085c093bc4ff4781ba88c9eb26658475" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">Securities and Exchange Commission</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">Page <font class="BRPFPageNumber">3</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">May 5, 2025</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>The Merger</u></div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>Summary of Material Financial Analyses, page 84</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf78f33aa076f4a61923f39fd877e5093" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: #000000; font-style: italic; font-weight: bold;">4.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-style: italic; font-weight: bold;">We note that the provided analysis and projections are a summary of the information provided to the board. Please revise to include the full projections.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">Aebi Schmidt respectfully acknowledges the Staff&#8217;s comment. In response to the Staff&#8217;s comment, Aebi Schmidt has revised the disclosure on page 86 in the section of Amendment No. 1 entitled &#8220;Summary of
      Financial Analysis&#8221; to clarify that the projected financial information set forth in such section of the proxy statement/prospectus contains all of the financial projections provided to the Shyft Board by Deutsche Bank Securities Inc. in connection
      with the Shyft Board&#8217;s consideration of the Transactions.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>Aebi Schmidt Holding AG Consolidated Financial Statements</u></div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>Note 17. Segments, page 164</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbbec40da25c24b8dac7665210f58340b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: #000000; font-style: italic; font-weight: bold;">5.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-style: italic; font-weight: bold;">We note your disclosure on page 142 that revenues for each of the company&#8217;s products would be impracticable to disclose and management does not view its business by product
              line. Please tell us what consideration was given to disclosing revenues for significant brands, groups of similar products, or lines of businesses. In this regard, in your discussion of segment MD&amp;A you attribute revenue fluctuations to
              specific brands and types of products and for goodwill impairment testing you have identified Monroe and MB Group as reporting units. Refer to ASC 280-10-50-40.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">Aebi Schmidt respectfully acknowledges the Staff&#8217;s comment and advises that it considers and follows the provisions of Accounting Standards Codification (&#8220;<font style="font-weight: bold;">ASC</font>&#8221;)
      280-10-50-40, &#8220;Information about Products and Services,&#8221; when preparing its financial statements. ASC 280-10-50-40 states that a public entity shall report the revenues from external customers for each product or each group of similar products unless
      it is impracticable to do so.</div>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">While Aebi Schmidt acknowledges that Aebi Schmidt has detailed revenue and expense information for Aebi Schmidt&#8217;s North American brands, the same level of granularity is not available for Aebi Schmidt&#8217;s
      Europe and the Rest of the World operations. The integration of Aebi Schmidt&#8217;s Europe and the Rest of the World operations has resulted in a consolidated reporting structure that does not allow for the separation of revenues and expenses by
      individual brands or product lines.</div>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">Aebi Schmidt&#8217;s North American brands comprise several brands (including Monroe and MB Group) acquired through various transactions.&#160; As a result of these historical acquisitions, Aebi Schmidt has been
      able to maintain separate financial records for each brand that facilitate individual reporting. Conversely, Aebi Schmidt&#8217;s Europe and the Rest of the World operations are integrated, making it impracticable to disclose revenues at the brand or
      product level given such revenue data is not separately maintained on a standalone basis.</div>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">In Aebi Schmidt&#8217;s North America segment, the reporting units where Aebi Schmidt conducts goodwill impairment testing are at the brand level, which allows Aebi Schmidt to evaluate the performance of each
      brand individually. However, for Aebi Schmidt&#8217;s Europe and the Rest of the World segment, the reporting unit is aligned with the overall segment rather than individual brands, and Aebi Schmidt does not have discrete financial information available at
      the brand or product level. Consequently, while Aebi Schmidt can assess transactions and brand performance separately in North America, the integrated nature of Aebi Schmidt&#8217;s operations in Aebi Schmidt&#8217;s Europe and the Rest of the World segment
      makes it impracticable for Aebi Schmidt to isolate brand-level performance in that segment.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc131682b2f95458390b21b8290966283" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">Securities and Exchange Commission</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">Page <font class="BRPFPageNumber">4</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">May 5, 2025</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">Furthermore, Aebi Schmidt&#8217;s segment disclosure is meant to provide an entity-wide view of Aebi Schmidt&#8217;s operations. Given that Aebi Schmidt only possesses detailed revenue information for certain North
      American brands and product lines, it is impracticable to disclose revenues by brand or products for the entire Aebi Schmidt business. Attempting to provide such disclosures for Aebi Schmidt&#8217;s Europe and the Rest of the World operations, where this
      information is not available, could result in inaccurate disclosure. Furthermore, only providing this information for Aebi Schmidt&#8217;s North American brands without providing such information for other geographic regions would result in incomplete
      disclosures. Therefore, Aebi Schmidt believes it is more appropriate to focus Aebi Schmidt&#8217;s disclosures on the financial performance of Aebi Schmidt by geographic region rather than attempting to present any financial information by brand or product
      line. <br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;"> <br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">In conclusion, Aebi Schmidt believes that the lack of brand or product level revenue data for Aebi Schmidt&#8217;s Europe and the Rest of the World operations, combined with the potential for presenting
      incomplete disclosures if such data is presented only for Aebi Schmidt&#8217;s North American operations, support Aebi Schmidt&#8217;s determination (including for purposes of ASC 280-10-50-40) that it is impracticable for Aebi Schmidt to report revenues for
      each of Aebi Schmidt&#8217;s products.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations Key Performance Indicators, page 174</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdf598c54d4b24c789a411b724dbd764c" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: #000000; font-style: italic; font-weight: bold;">6.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-style: italic; font-weight: bold;">You disclose that Aebi Schmidt&#8217;s key performance indicators are not based on any standardized industry methodology, are based on internal data, and increases or decreases in
              key performance indicators may not correspond with increases or decreases in revenue. As sales, net income and margin, and net cash provided by (used in) operating activities are presented in or derived from amounts in the company&#8217;s GAAP
              financial statements, please revise to clarify that these measures are presented in or derived from your financial statements and are not internally-derived metrics potentially subject to adjustment. Additionally, clarify your statement that
              there are inherent challenges in measuring usage and engagement, specifically describe the nature of usage and engagement and how this relates to the key performance indicators presented.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">Aebi Schmidt respectfully acknowledges the Staff&#8217;s comments. In response to the Staff&#8217;s comment, Aebi Schmidt has revised the disclosure on page 177 to clarify the description of key performance
      measures presented in or derived from Aebi Schmidt&#8217;s GAAP financial statements. These measures are not internally-derived metrics that are potentially subject to adjustment. In addition, Aebi Schmidt has removed reference to any challenges in
      measuring usage and engagement.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>Results of Operations, page 175</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z35339892720443aa81f3fa054b94354c" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: #000000; font-style: italic; font-weight: bold;">7.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-style: italic; font-weight: bold;">We note your disclosure that the increase in sales for the North America segment was primarily driven by an increase in orders for airport snow clearing machines (M-B) and the
              company&#8217;s municipal business (Monroe brand). We further note your disclosure related to Europe and the Rest of the World referring to Street Sweeping, airport snow and ice clearing machines, offset by lower legacy agricultural products. To
              the extent available, please revise the discussion of consolidated and/or segment results of operations to disclose the amount of or increase in revenues attributed to significant brands or lines of business. In this regard we note that
              recent Aebi Schmidt annual reports disclose sales by brands and certain groups of brands, including M-B products and Monroe/Towmaster products. Refer to Item 303(b) of Regulation S-K.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">Aebi Schmidt respectfully acknowledges the Staff&#8217;s comment. In response to the Staff&#8217;s comment, Aebi Schmidt has revised the language pertaining to Aebi Schmidt&#8217;s North America segment to provide a
      clearer understanding of the increase in sales driven by Aebi Schmidt&#8217;s airport snow clearing machines under Aebi Schmidt&#8217;s M-B brand and the municipal business under Aebi Schmidt&#8217;s Monroe brand by quantifying the impact of such increase. However,
      Aebi Schmidt would like to clarify that while Aebi Schmidt has detailed revenue and expense information for Aebi Schmidt&#8217;s North American brands, Aebi Schmidt does not have the same level of granularity available for Aebi Schmidt&#8217;s Europe and the
      Rest of the World operations.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za6921a5b5cad4067ae2017cfa583a49c" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">Securities and Exchange Commission</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">Page <font class="BRPFPageNumber">5</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">May 5, 2025</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">As noted in Aebi Schmidt&#8217;s response to the Staff&#8217;s comment #5, the integration of Aebi Schmidt&#8217;s Europe and the Rest of the World operations has led to a consolidated financial reporting structure that
      does not facilitate the separation of revenues and expenses by individual brands or product lines. While Aebi Schmidt uses internal operating and production information to explain the drivers of Aebi Schmidt&#8217;s Europe and the Rest of the World
      operations, Aebi Schmidt does not have sufficient financial information to quantify the impacts of individual brands and product lines of Aebi Schmidt&#8217;s Europe and the Rest of the World operations as this information is not tracked.</div>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt; color: #000000;">Furthermore, as a privately held Swiss company, Aebi Schmidt has historically published on Aebi Schmidt&#8217;s website unaudited sales figures by brand and certain groups of brands as supplemental
      information in Aebi Schmidt&#8217;s annual reports.&#160; These figures were derived using a simplified approach based on a legal entity basis and management&#8217;s assumptions and estimates, which may differ from the actual numbers under U.S. GAAP. Accordingly,
      such sales figures were not used in the preparation of Aebi Schmidt&#8217;s U.S. GAAP financial statements included in the Registration Statement.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-style: italic; font-weight: bold;"><u>General</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd8c2641952d248b4ae9a435086fb7797" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; color: #000000; font-style: italic; font-weight: bold;">8.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-style: italic; font-weight: bold;">In an appropriate place in the summary, include a diagram of Shyft&#8217;s and Aebi Schmidt&#8217;s organizational structures prior to and after the consummation of the merger agreement.
              With a view to providing investors a picture of the common ownership and how the entities are affiliated, include a depiction of the ownership of Shyft and Aebi Schmidt in the diagram. Also include the affiliated entities with which Aebi
              Schmidt does business, so that investors understand how they are affiliated.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt;"><font style="color: #000000;">Aebi Schmidt respectfully acknowledges the Staff&#8217;s comment. In response to the Staff&#8217;s comment, Aebi Schmidt has</font> added Exhibit 21.2 to Amendment No. 1, which includes corporate
      structure diagrams showing the organizational structures of (i) Shyft and its subsidiaries immediately prior to the Effective Time, (ii) Aebi Schmidt and its subsidiaries immediately prior to the Effective Time, and (iii) the Combined Company
      immediately following the Effective Time. Aebi Schmidt also added a statement cross referencing Exhibit 21.2 in the section of Amendment No. 1 entitled &#8220;<font style="font-style: italic;">Description of the Aebi Schmidt Business&#8212;The Shyft Transaction&#8221;</font>.</div>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt;">As disclosed in the Registration Statement in the section entitled &#8220;<font style="font-style: italic;">Transactions with Related Persons of Aebi Schmidt and Certain Control Persons of Aebi Schmidt</font>&#8221;, Mr. Peter
      Spuhler, the chair and controlling shareholder of Aebi Schmidt as of immediately prior to the Effective Time, is an entrepreneur and investor with significant and diverse holdings, and some of the entities that Mr. Spuhler controls or in which Mr.
      Spuhler has significant investments have entered into, and in the future may enter into, commercial transactions with Aebi Schmidt or its subsidiaries on arms-length terms. Such section discloses such commercial relationships with two entities,
      namely, Stadler Rail AG and Innflow AG, which might be deemed affiliates of Aebi Schmidt through Mr. Spuhler. However, Aebi Schmidt did not include such entities in the structure diagrams because they are not group companies of Aebi Schmidt (i.e.,
      subsidiaries of Aebi Schmidt Holding AG), and Aebi Schmidt believes that including such entities would not provide meaningful additional disclosure but rather could potentially confuse investors as to the relationship between such entities and Aebi
      Schmidt.</div>
    <div style="text-indent: 35.4pt;"> <br>
    </div>
    <div style="text-align: center;"> *&#160; &#160; &#160; &#160; &#160; &#160; *&#160; &#160; &#160; &#160; &#160; &#160; * </div>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt;">Aebi Schmidt acknowledges that it is responsible for the adequacy and accuracy of the disclosure in the filings that Aebi Schmidt makes with the Staff. Aebi Schmidt also acknowledges that the Staff&#8217;s comments or
      changes to disclosure in response to the Staff&#8217;s comments do not foreclose the Commission from taking any such action with respect to such filings. Furthermore, Aebi Schmidt acknowledges that it may not assert the Staff&#8217;s comments as a defense in any
      proceeding initiated by the Commission or any person under the federal securities laws of the United States of America.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><br>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z29d1abaff84a44a58a9cb856aac5cfa8" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">Securities and Exchange Commission</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">Page <font class="BRPFPageNumber">6</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">May 5, 2025</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 35.4pt;">Aebi Schmidt would appreciate receiving any further questions or comments that the Staff may have regarding this letter or the Registration Statement at the Staff&#8217;s earliest convenience. Please do not hesitate to
      contact the undersigned at (212) 509-4741 or jake.brown@wg-law.com.</div>
    <div><br>
    </div>
    <div>Sincerely,</div>
    <div><br>
    </div>
    <div>Wuersch &amp; Gering LLP</div>
    <div><br>
    </div>
    <div>/s/ John F. (Jake) Brown</div>
    <div>John F. (Jake) Brown</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb8c1b4a5617048cea5fd3d8e42e0654b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 54pt; vertical-align: top;">cc:</td>
          <td style="width: auto; vertical-align: top;">
            <div>Aebi Schmidt Holding AG<br>
              Barend Fruithof<br>
              Thomas Schenkirsch</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>ny20046461x3_image01.jpg
<TEXT>
begin 644 ny20046461x3_image01.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  ; )<# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#^EWPM^UY\
M3?@U^SY_P5=\):EX@\"?$']JO]B/X[?M*7/PC\)ZU\1_$'Q3U;XG?\-46TG[
M57_!/;P'?^![B+P5\1]._P"$QO/V@O O[&GPT^$OAF^O_P#A+O&WPEU+X<_!
M'Q9JTHT?2M'X3]G[XY?$W]C;]AG]NW]GC6OC_P#\-@?MD_\ !-C_ (2;P=X;
M\?\ QF\1^(/$_P 3?VG/B;^T!\(/"G[2/[)-IXI^&5W\0?$?Q3M?^%D_%/X[
M:;^Q[\(O MA\2O$WB#XN^(/A.^B_#3Q#9^(M9@\">#^[_:\_9)_:C^*'_!1W
M]EOQQ\/;OS?V-OB7_P *#O\ ]M6\T6#X>:7XV\#:M_P3>^)/QN_:N_8_TVPU
MOQQXDU/6-=\"?'#]H[XS:%IWQ+T7X;_"R7QMHND_![347XE^%/#OC77XGW?V
MQ/V4?C[\4OV]OV1/%OPSL]=7]FGXB:[\)=7_ &\_%6FZW\++34/#&G_\$Z/'
M/Q%_:I_82\+>&=-\:17'BUM"^*O[4?Q;UB/XW7'@30?$OB:_\,_#[P+I.E>(
M_A)HLWC74?'@!ZQ^R9HWQ-^%_P"TUXZ_9T^('QJ\=_&W_A27_!-G_@F1HU_X
MQ\8ZKX@D_P"$Y^)L?Q _X*"^!?B7\:[OP]K7B7Q7_9?COXP_\*T\*:IXZU6;
M7-<\0:U_8?AZQU_Q+XA_X1[3;M/"OVY/BE\3?"7_  ^3_P"$4^(OCOPS_P *
MO_X(R?"_XH_#3_A'O%WB#1?^%=_$W4/^'JWV_P"(O@7^S=0MO^$2\=WO_"N_
MA_\ :_%V@?V?X@N?^$&\'>=J#_\ ",Z+]B]8^/OP\_;)^#O[:Q_;4_9Q\&Z%
M^TK\(_'7[-GPJ_9M^/7[)UKXT\&?"+XNG4/AI^T-XE\:>!OCY\'?'7Q%T6?P
M#X_UWP3X!^/GQZM-4^#/CCXH_LX>&=7@@L;QOB)XI\0WWAS3/"?D_P 6_P!F
MG]KGXZ_!S_@K'\2_&G@KP)X:^(_[8O["C?LL?LN_LU>%_$=EJGC;POX2\"?"
MG]IW4_ ,'Q\^*NK:]8?"<?';X@_%C]JCQEHOC#P[\/+_ %+X)?"K2?#/AG3=
M%^-_QALY=4^(MP >Z_L=:_\ \$\-5^)NNV_[)/[:O_#1_P 1T\":G-K7@?\
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M^T'\"OBY\!/#7[3?P,^)GPEMOV9=,_X6Q\/_ !!\+-&^*GQB\$_&KXG?#_\
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M.7[$O[9/BGX1?\$__P!G_0?@SH5[X-_8$_X+<_L[_$/X:ZMX<^*_@R^T]O\
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M%?YVG_#;7[9O_1W'[3O_ (?OXJ__ #5T?\-M?MF_]'<?M._^'[^*O_S5T?\
M$=\I_P"A#F/_ (4X;_(/^*6''_\ T=7@_P#\,V=?_)G^B717^=I_PVU^V;_T
M=Q^T[_X?OXJ__-71_P -M?MF_P#1W'[3O_A^_BK_ /-71_Q'?*?^A#F/_A3A
MO\@_XI8<?_\ 1U>#_P#PS9U_\F?Z)=%?YVG_  VU^V;_ -'<?M._^'[^*O\
M\U='_#;7[9O_ $=Q^T[_ .'[^*O_ ,U='_$=\I_Z$.8_^%.&_P @_P"*6''_
M /T=7@__ ,,V=?\ R9_HET5_G:?\-M?MF_\ 1W'[3O\ X?OXJ_\ S5T4?\1W
ARG_H0YC_ .%.&_R#_BEAQ_\ ]'5X/_\ #-G7_P F?__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>ny20046461x3_image02.jpg
<TEXT>
begin 644 ny20046461x3_image02.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  L 0P# 2(  A$! Q$!_\0
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M3HOPW^&^B?\ ",^!/#/]I0^%O"T.I:OJ&D^%-)U#5K_5[?PIX4M]7O\ 4/\
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MC'_A(_%MS_:'_"Q/"7[-'@7QC_Q3UWKUQX6M/[8\*_L??LZ:7_H.AVW]G_\
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M]B+XT?$&/X3?#;Q39^"?[6^''P)^.7C3XY>(O$?P\\-?L!:QX@U7Q'X.^/\
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MT_!/X^_VO_PMKP5_PEG]N_ KXY_LT:K_ ,5'XMT+[5\$OVE/^%??\+K\%?\
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MJVM?#SX>1V7PL\,^!M&TL ^;/"_QJ^.>B?%G]N;P[\._^%3_ !-\92?\%"/
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M?\)W\8_'W@#X=:O:> ;/7T\71=W\&?V'?V7/@!\$O"W[-GPM^&']D_L^^$/
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M_B1?%/XC_8?'VO\ PBM/^$2O/#_[.O\ ;OA_0TA_9_\ #WBGPI]L_P"%C_\
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M^$VG6'B+PYXXTWQ_X2^)&D^-?BI\-/BGH/CCX'?$GQ3\*K[!3]@SX!Z1\.?
M_P -_ DGQ8^&<?P]UWXIZOX>^(W@WXV_%.7XYOI_[07CW4?B)^TGX6UKX\>+
MO%7BKXN:_H7[0GB'6=5U/XAW&L>,+SQ-I?C"+P7\8?AGXC^'OQY^#?P,^*OP
MR /A2V_;#_;)\8> O&GCVS\2_LV>%?$/P+_X) _L^_MXZMX-TBZ\&7OPB^*W
M[5/[0GPY_;&M8_"?BG]I#7OC?JOPOT#]C'P1XF^ ^F>*K?6O!7C/0-9\03R>
M'/%]W^UI8?"/1O%OA_XC>[:_-^T-X;_:S\5>(OC7^TK^TG\&/V>O$_[2?@#P
M7^S?H/@GPK^Q3J?[-GB+PS#\%?V8Y-+^'GQI\6^)_@1\0_VD? VN_M'_ +2/
MB#]H3X8^#-:U'Q]X#T_6==\-Z'\,/"GC'P%\2OBA^S5I/Q?[OQE_P3!_9,\8
M>&=%\"1Z3\6/!GP\M?V;/AY^QIXP\ ?#WX_?&KP?X9^*W[)GPFT_QI!\-_@/
M\2(],\<KJNI:%X6U7QSJVL+X]T'5?#GQJ\0:?-KOPS\6_$_Q!\$OB5\8?A?\
M1OI.[^"-SKWQ-\0^,_'7Q8\=_$GX<:K_ ,(=J7A[]FSQUX0_9\U7X)?#WQMX
M \0>!?&'@[XE^#KVT^!^F_'"7QWX:\;>!+3QMX>O_&/QI\7:3X=\6ZK=ZYX>
MT72KS0_ K^$ #W6BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
(* "BBB@#_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
