Dye & Durham Announces Results of Excess Proceeds Offer

Executive Summary

• Dye & Durham announced the results of its excess‑proceeds tender offer for its 8.625 % Senior Secured Notes due 2029, accepting $45.745 M in consideration (per $1,000 principal).
• The amount of notes tendered exceeded the maximum purchase price, so acceptance was on a pro‑rata basis with a minimum purchase of $2,000 per holder.
• Payment to the Depositary was made on March 12, 2026, completing the transaction.

Key Details

• Maximum Notes Purchase Price: Up to $45,891,016 (excluding accrued interest and fees).
• Notes Outstanding: $555,000,000 principal amount.
• Notes Tendered: $545,957,000 principal amount tendered by holders as of the expiration time (5:00 p.m. NY time, March 9, 2026).
• Accepted Notes: $45,745,000 principal amount accepted on a pro‑rata basis (rounded down to nearest $1,000).
• Tender Offer Consideration: $1,000 per $1,000 principal of accepted notes (excludes accrued interest, which will be paid separately).
• Minimum Purchase Requirement: $2,000 minimum purchase amount and $2,000 minimum denomination for beneficial owners.
• Settlement Date: Payment delivered to the Depositary on March 12, 2026 (third business day after expiration).
• Source of Funds: Portion of net proceeds from Dye & Durham’s divestiture of Credas Technologies Ltd., as required under the indenture dated April 11, 2024.

Notable Quotes

(No executive quotes were included in the release.)