secwatch.observer — SEC 8-K summary
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Issuer:     RXO, Inc. (RXO)
CIK:        0001929561
Form:       8-K
Filed at:   2024-08-12T23:59:59+00:00
Accession:  0001104659-24-088393
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RXO raises $550M via private placement of stock and warrants for Coyote deal
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- Entered purchase agreements with MFN Partners and Orbis Investments for $550M private placement.
- Issued 20,954,780 shares at $20.21/share and pre-funded warrants for 6,259,471 shares at $20.20/warrant.
- Proceeds to partially fund the pending acquisition of Coyote Logistics from UPS, expected to close in H1 Q4 2024.
- Warrants exercisable at $0.01/share with some subject to stockholder approval by Dec 31, 2024; lock-up of 120 days.
- Registration statement for resale of shares to be filed within 90 days post-closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1929561/000110465924088393/0001104659-24-088393-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1929561/000110465924088393/tm2421323d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-088393

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer