Grubhub Holdings Unveils Results from Recent Exchange Offer

Author: Dylan Bailey Updated: 09-09-2025 07:43 AM

Grubhub Holdings Announces Exchange Offer Results

Grubhub Inc. ('Grubhub'), a prominent name in the U.S. online food delivery landscape, recently revealed the results of its exchange offer for outstanding senior notes due 2027. The exchange, undertaken by Grubhub's wholly owned subsidiary, Grubhub Holdings Inc., involved a proposal to exchange existing notes for newly issued senior secured cash notes due 2030. This initiative aimed to streamline their financial obligations while offering enhanced terms for existing noteholders.

Details of the Exchange Offer

As of the designated deadline, Grubhub Holdings confirmed that a significant portion of the existing notes had been validly tendered for the exchange. In total, $470,750,000 in principal amount, or about 94.15% of the total outstanding amount, was submitted. This strong participation signifies a robust response from eligible noteholders who recognized the value in this exchange process.

Amendments to the Indenture

With the successful collection of consents from eligible holders, Grubhub Holdings has taken steps to amend the indenture governing the existing notes. These amendments aim to remove several restrictive covenants and events of default, thus providing greater flexibility for the company moving forward. Such changes are expected to come into effect upon the finalization of the exchange offer, thereby enhancing the operational capacity of Grubhub.

Extended Participation Opportunity

Grubhub has also announced an extension of the exchange offer, allowing holders who did not participate before the initial deadline a chance to do so by a new expiration date. Eligible holders can now submit their notes until a later deadline, thereby increasing the potential for further engagements in this beneficial financial maneuver.

Holders will have the option to choose either new notes or cash as part of their consideration for the exchanged notes. This flexibility caters to the diverse preferences of noteholders and aims to make the exchange process more appealing.

Eligibility and Participation Criteria

Participation in the exchange offer is specifically designed for those who are qualified institutional buyers or located outside the U.S. This strategic approach ensures compliance with relevant securities regulations while granting access to a select group of institutional investors.

Grubhub's Commitment to Innovation

As a leader in the food delivery sector, Grubhub remains dedicated to enhancing its services through innovative technology and responsive customer engagement strategies. By offering competitive financial solutions such as the recent exchange offer, Grubhub continues to strengthen its market position and foster deeper connections with its merchant partners and customers.

Frequently Asked Questions

What was the participation rate in Grubhub's exchange offer?

The participation rate reached approximately 94.15% of the total principal amount outstanding of the Existing Notes.

What does the recent exchange offer mean for Grubhub Holdings?

This exchange offer allows Grubhub Holdings to amend key terms of the existing notes, enhancing operational flexibility and financial stability.

Can holders participate after the initial deadline?

Yes, Grubhub has extended the exchange offer, permitting further participation until a new expiration deadline.

What options do holders have for their exchanged notes?

Eligible holders may choose between receiving new notes or cash as consideration for their exchanged notes.

Who qualifies as an eligible holder under this offer?

Eligible holders include qualified institutional buyers or individuals outside the U.S. who do not qualify as U.S. persons under relevant securities regulations.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

In addition to writing, I also host webinars and workshops, where I give presentations and share my knowledge with a wider audience. I also write for top financial journals and show up as a guest analyst on financial news shows. I like to travel, spend time with my family, and keep active by playing different sports when I'm not buried in market research.

My goal is to enable people to choose wisely and consciously in their investments, so taking charge of their financial futures. By my work, I hope to create a community of informed and self-assured investors prepared to take advantage of the chances presented by the stock market.

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