Accendra Health, Inc. announced that holders have tendered approximately 99.9% of its outstanding 4.500% Senior Notes due 2029 and 99.2% of its 6.625% Senior Notes due 2030 as part of its exchange offers. The company received valid tenders representing roughly $478.3 million in aggregate principal amount of 2029 Notes and $547.9 million in aggregate principal amount of 2030 Notes as of 5:00 P.M., New York City time, on June 9, 2026. Eligible holders are exchanging existing notes for new 9.000% Senior Secured First Lien Notes due 2032 and 9.750% Senior Secured Second Lien Notes due 2033.

The company secured requisite consents from holders to adopt proposed amendments to the indentures governing the existing notes. These amendments will eliminate substantially all affirmative and negative covenants, remove certain events of default, and modify provisions regarding mergers, consolidations, and defeasance. Supplemental indentures have been executed to give effect to these changes, which will become operative on the early settlement date.

In connection with the exchange offer for the 2029 Notes, the company offered $326.25 million in aggregate principal amount of newly issued First Lien Notes for cash. Holders participating in this New Money Notes Issuance were required to deliver their pro rata cash portion of $65.25 million in aggregate principal amount of First Lien Notes by June 10, 2026. Backstop Parties have agreed to purchase their agreed percentage of an aggregate principal amount of $261.0 million of the New Money First Lien Notes at par, and up to an additional $65.25 million if not purchased by other eligible holders.

Tenders for the 2029 Notes were categorized by participant type. Approximately $124.0 million in aggregate principal amount were tendered by New Money Participants, $332.0 million by Backstop Participants, and $22.3 million by Other Eligible Participants. All eligible holders of 2030 Notes will receive the same exchange consideration regardless of category.

The company amended the offers to set the expected Early Settlement Date for notes tendered at or prior to the Early Exchange Time as June 15, 2026. The Expiration Time has been extended to 5:00 P.M., New York City time, on June 23, 2026, with the Late Settlement Date expected on June 25, 2026. The right to withdraw tenders expired as of June 9, 2026.

Epiq Corporate Restructuring, LLC serves as the Exchange Agent and Information Agent, while Ducera Securities LLC acts as the financial advisor. The new notes have not been registered with the Securities and Exchange Commission and are being offered only to qualified institutional buyers or non-U.S. persons in reliance on Rule 144A or Regulation S.