Cardinal Infrastructure raises cash portion of Hughes Brothers acquisition to 60%

• Cardinal Infrastructure Group amended its $357.5 million Hughes Brothers Construction acquisition to 60% cash and 40% stock, from 50% each.
• Sellers will receive approximately $214.5 million cash and 5,255,420 Class A common shares at an issue price of $27.21 per share.
• The revised earnout offers up to $162.5 million based on Hughes Brothers’ adjusted EBITDA for the 12 months ending June 30, 2027.
• Earnout payments will comprise 60% cash and 40% stock, including up to approximately 2,388,827 additional shares at $27.21 each.
• Closing remains expected in the fourth quarter of 2026, with cash consideration funded through cash on hand and existing credit facility borrowings.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cardinal Infrastructure Group Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202610190730PR_NEWS_USPR_____CL74951) on October 19, 2026, and is solely responsible for the information contained therein.