Company: QXO-PB
Filing Date: 2025-03-20
Form Type: 8-K
Source: 0001140361-25-009591
Chunk: 4

Company: QXO, Inc.
Filing Date: 2025-03-20
Form: 8-K
Item: Item 1.01
Chunk 4
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 be permitted to furnish information to, and participate in discussions and negotiations with, the person making such acquisition proposal, subject to certain restrictions set
forth in the Merger Agreement. In addition, at any time prior to the Acceptance Time, the Beacon Board may change its recommendation, in certain circumstances, if the Beacon Board determines in good faith (after consultation with its financial
advisors and legal counsel) that the failure to change its recommendation would reasonably be expected to result in a violation of the Beacon Board’s fiduciary duties under applicable law.

Termination; Termination Fee. The Merger Agreement contains certain customary termination rights in favor of each of Beacon and QXO, including among others Beacon’s right, subject to certain limitations,
to terminate the Merger Agreement in certain circumstances to accept a Superior Proposal, and QXO’s right to terminate the Merger Agreement if the Beacon Board changes its recommendation that Beacon’s stockholders tender their Shares in the Offer.
In addition, either Beacon or QXO may terminate the Merger Agreement if, subject to certain limitations, the Acceptance Time has not occurred by the Outside Date.

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In addition, the Merger Agreement provides that, Beacon is
obligated to pay QXO the Termination Fee in certain circumstances, including if (i) the Merger Agreement is terminated by Beacon prior to the Acceptance Time in connection with Beacon’s entry into a definitive agreement with respect to a Superior
Proposal, (ii) the Merger Agreement is terminated by QXO prior to the Effective Time because, prior to the Acceptance Time, theBeacon Board changed its
recommendation to Beacon stockholders or made an Intervening Event Recommendation Change, (iii) the Merger Agreement is terminated by either QXO or Beacon because the Acceptance Time did not occur on or before the Outside Date and, prior to the
Acceptance Time, the Beacon Board changed its recommendation that Beacon’s stockholders tender their Shares in the Offer, and (iv) the Merger Agreement is terminated by (1) QXO due to certain breaches by Beacon of the Merger Agreement that would
cause certain closing conditions not to be satisfied and such breach would not be curable by the Outside Date or (2) either QXO or Beacon if the Acceptance Time did not occur on or before the Outside Date and, in each case of this clause
(iv), on or after the date of the Merger Agreement and prior to such termination an acquisition proposal was publicly