SilverSun cancels spin-off, retains business; ups cash dividend to $17.4M

QXO, Inc.

Spin-off eliminated; company retains existing operations; stockholders receive $17.4M cash dividend (up from $2.5M).
Equity investment of $1B from Jacobs Private Equity II unchanged; 8:1 reverse stock split planned.
CEO Mark Meller gets new offer letter: $1.12M base salary, 10% annual increases, severance at 3x average salary.
Meller's prior employment agreement terminated upon closing with lump sum severance up to $3M.
Transactions require stockholder approval and customary closing conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

QXO, Inc. amended Amended and Restated Investment Agreement with Jacobs Private Equity II, LLC valued at $1,000,000,000 equity investment, $17,400,000 aggregate cash dividend to pre-closing stockholders (effective 2024-04-14).

Action: amendment
Agreement: equity purchase
Counterparty: Jacobs Private Equity II, LLC
Value: $1,000,000,000 equity investment, $17,400,000 aggregate cash dividend to pre-closing stockholders
Effective: 2024-04-14

Exact text from the filing

On April 14, 2024, the Company entered into an Amended and Restated Investment Agreement (the “ A&R Investment Agreement ”) with JPE (on behalf of itself and on behalf of each of the other Investors) amending and restating the Original Investment Agreement.

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314 material agreements filed in the last 30 days. Browse all material agreements →

QXO, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-032760

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