QXO launches $1.0B concurrent common stock and mandatory convertible preferred offerings

QXO, Inc.

• Gross proceeds of $1.0B from concurrent offerings of common stock and depositary shares (Series B Mandatory Convertible Preferred).
• Underwriters have options to purchase up to $150M additional shares to cover over-allotments.
• Net proceeds to repay senior secured term loan facility and strengthen position for future acquisitions.
• Mandatory convertible preferred will automatically convert into common stock on or about May 15, 2028.
• Goldman Sachs and Morgan Stanley are lead joint bookrunning managers; QXO intends to list depositary shares as QXO.PRB.