LPL Financial Holdings Inc

Entered into a definitive purchase agreement to acquire Commonwealth Financial Network (“Commonwealth”)

On March 31, 2025, the Company announced that it had entered into a definitive purchase agreement to acquire Commonwealth, a privately-held independent wealth management firm headquartered in Massachusetts, for $2.7 billion. As part of the agreement, we expect Commonwealth to transition its advisory and brokerage assets to the Company’s platform. The transaction is expected to close in the second half of 2025 and the conversion to the Company’s platform is expected to be completed in mid-2026, in each case subject to the receipt of regulatory approvals and other conditions.

The Company will finance this transaction through a combination of corporate cash and the proceeds from completed debt and equity issuances. On April 2, 2025, the Company completed a public offering of approximately 5.4 million shares of the Company’s common stock at an offering price of $320.00 per share, and on April 3, 2025, the Company completed the issuance and sale of $500.0 million in aggregate principal amount of 4.900% senior unsecured notes due 2028, $500.0 million in aggregate principal amount of 5.150% senior unsecured notes due 2030 and $500.0 million in aggregate principal amount of 5.750% senior unsecured notes due 2035. See Note 4 - Acquisitions, Note 9 - Corporate Debt and Other Borrowings, Net, and Note 11 -Stockholders’ Equity within the notes to the condensed consolidated financial statements for additional information.

Completed a $1.25 billion debt offering

On February 26, 2025, the Company completed the issuance and sale of $750.0 million in aggregate principal amount of 5.200% senior unsecured notes due 2030 and $500.0 million in aggregate principal amount of 5.650% senior unsecured notes due 2035. See Note 9 - Corporate Debt and Other Borrowings, Net, within the notes to the condensed consolidated financial statements for further detail.