QXO Announces Nearly All TopBuild Notes Tendered; settlement expected July 1

QXO announced successful tender offers with ~99.5% of TopBuild’s 2032 notes and ~99.75% of 2034 notes validly tendered.

Key Highlights:

• Accepted $497,723,000 (99.54%) of 4.125% Senior Notes due 2032 and $748,093,000 (99.75%) of 5.625% Senior Notes due 2034.
• Early tenders accepted at $1,011.25 per $1,000; later tenders accepted at $961.25 per $1,000, plus accrued interest.
• Settlement Date expected July 1, 2026, substantially coinciding with closing of QXO’s acquisition of TopBuild.
• Consents obtained to amend indentures to remove change-of-control offers, most covenants and most defaults; supplemental indentures effective at settlement.
• TopBuild stockholder election: ~91.0% chose cash, ~1.4% chose stock, ~7.6% deemed to have elected stock (proration applies).

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.