QXO, Inc. announced the pricing of its public offering of 89,887,640 shares of common stock at $22.25 per share. The offering is expected to close on June 26, 2025, subject to customary closing conditions. QXO intends to use the net proceeds from this $2 billion offering for general corporate purposes, which may include funding future acquisitions of businesses.
This significant equity raise provides QXO with additional capital to pursue its strategy of aggressive consolidation and organic growth in the building products distribution industry, targeting $50 billion in annual revenues within the next decade. Goldman Sachs & Co. LLC, Morgan Stanley, and Wells Fargo Securities are acting as underwriters for the offering. This capital infusion strengthens QXO's financial flexibility for its ambitious expansion plans.
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