Company: QXO-PB
Filing Date: 2025-03-04
Form Type: DFAN14A
Source: 0000950142-25-000597
Chunk: 1

Company: QXO, Inc.
Filing Date: 2025-03-04
Form: DFAN14A
Chunk 1
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 per share.

The tender offer, which was scheduled to expire at 5:00 p.m. (New York City time) on March 3, 2025, will remain open until 5:00 p.m. (New York City time) on March 10, 2025. QXO is prepared to complete the acquisition shortly after the tender expires, subject to the terms of the offer. The transaction is not dependent on any financing or due diligence conditions, and QXO has obtained antitrust clearance in both the U.S. and Canada.

“Beacon’s chairman, Stuart Randle, recently sold 21% of his shares at $94.80 per share, and CEO Julian Francis sold 10% of his shares at $97.91 per share—yet the Board continues to block its own shareholders from accepting QXO’s $124.25 per share all-cash offer,” said Brad Jacobs, chairman and chief executive officer of QXO. “The Board’s resistance is even more indefensible given Beacon’s weak performance, missing Q4 2024 expectations for revenue, organic growth and EBITDA, while guiding Q1 2025 EBITDA 40% below consensus.”

The full terms, conditions and other details of the tender offer are available in the offering documents filed with the Securities and Exchange Commission. To learn more about QXO’s offer and how it benefits Beacon shareholders, visit www.qxo.com/beacon.

Computershare Trust Company, N.A., the depositary and paying agent for the tender offer, has reported that, as of 5:00 p.m. (New York City time) on March 3, 2025, approximately 11,810,616 shares have been validly tendered and not withdrawn, representing approximately 19.18% of the issued and outstanding shares. Shareholders who have already tendered their Shares do not need to take further action in response to this extension. Beacon shareholders who have not yet tendered their shares are encouraged to do so promptly. For assistance, shareholders may contact Innisfree M&A Incorporated, the information agent for the tender offer, at +1 (888) 750-5834. The level of tendered shares is above expectations at this stage, particularly since the Beacon Board has implemented a shareholder-unfriendly poison pill designed to obstruct the completion of the tender offer.

Secured Financing in Place

QXO has secured full financing commitments from Goldman Sachs, Morgan Stanley, Citi, Cr