TPx Announces Agreement to Strengthen Financial Position and Accelerate Growth

Enters into Amended and Restated Restructuring Support Agreement with existing sponsor and secured lenders holding approximately 98% of funded debt to enhance financial position

Continues to provide customers with high-performance managed services

Receives commitment of $73.6 million in Debtor in Possession ("DIP") financing to support ongoing operations and fund pre-packaged court-supervised process

AUSTIN, Texas, June 28, 2026 /PRNewswire/ -- TPx (the "Company"), a nationwide managed services provider, today announced it has reached an amended and restated Restructuring Support Agreement with its existing sponsor and holders representing a significant majority of the Company's outstanding funded debt, positioning the Company for its next phase of growth. The agreement strengthens TPx's financial foundation by providing a commitment for recapitalization and elimination of significant debt that will allow TPx to continue to build upon positive EBITDA and free cash flow growth.

"This agreement with our lenders marks a substantial step forward for TPx," said Shaun Andrews, Chief Executive Officer of TPx. "It gives us the flexibility to accelerate our strategy, increase investments that grow the business, and deliver exceptional managed services to our customers. We're energized by the opportunities this creates and the path ahead."

To implement the agreement, TPx and certain of its affiliates have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. Throughout the process, TPx will continue to operate in the ordinary course, delivering reliable managed services and supporting our customers' day-to-day operations without interruption.

In connection with this process, the Company has received new financing commitments, including DIP financing and exit financing from its existing lenders to provide the Company with sufficient liquidity to support the business throughout the Chapter 11 process and beyond. TPx aims to move through this process quickly and efficiently.

TPx has filed customary "First-Day Motions" with the Court to support a seamless transition into Chapter 11 without disruption and will continue operating as usual, meeting its obligations and maintaining strong relationships with vendors and technology partners to ensure the high-quality service customers expect.

Additional Information

Additional information about TPx's restructuring process is available at http://tpx.com/ourfuture. Bankruptcy Court filings and other information regarding the case can be found at https://restructuring.ra.kroll.com/TPx, or by contacting Kroll Inc., the Company's noticing and claims agent, at (888) 339-7353 (toll-free) and +1(646) 825-5321 (international).

TPx is advised in this matter by Sidley Austin LLP as legal counsel, Portage Point Partners as financial advisor, with Steven Shenker serving as Chief Restructuring Officer, PJT Partners, Inc. as investment banker, and FTI Consulting, Inc. as communications advisor. An ad hoc group of lenders is advised by Davis Polk & Wardwell LLP as legal counsel, Haynes & Boone LLP as local counsel, and Guggenheim Securities, LLC as financial advisor.

About TPx

TPx is your sidekick for smart IT—helping organizations connect, secure, and grow with confidence. Leveraging decades of experience, TPx delivers managed services for cybersecurity, networks, and cloud communications that reduce risk and maximize the value of IT investments. Visit www.tpx.com to learn more.

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SOURCE TPx