QXO, Inc. announced the pricing of its concurrent public offerings, including 48,484,849 shares of common stock at $16.50 per share and $500 million of depositary shares at $50.00 per share. The common stock offering is expected to generate $800 million in gross proceeds, and the depositary shares offering will generate $500 million in gross proceeds. The common stock offering is expected to close on May 23, 2025, and the depositary shares offering on May 27, 2025.
QXO intends to use the net proceeds from these offerings to repay indebtedness under the Company’s senior secured term loan facility. This move is designed to strengthen the company’s financial position for future acquisition opportunities. The depositary shares represent a 1/20th interest in newly issued 5.50% Series B Mandatory Convertible Preferred Stock, which will automatically convert into common stock around May 15, 2028. This capital raise enhances QXO's financial flexibility for its ongoing growth initiatives.
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