secwatch.observer — SEC 8-K summary
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Issuer:     QXO, Inc. (QXO)
CIK:        0001236275
Form:       8-K
Filed at:   2025-05-27T23:59:59+00:00
Accession:  0001104659-25-052978
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

QXO raises $557.6M via 5.50% Series B Mandatory Convertible Preferred Offering
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- Issued 10M depositary shares at $50 each, each representing 1/20 interest in a 5.50% Series B Mandatory Convertible Preferred share.
- Underwriters exercised over-allotment fully; net proceeds approximately $557.6M after discounts and expenses.
- Preferred stock accrues dividends at 5.50% on $1,000 liquidation preference, payable quarterly starting August 15, 2025.
- Unless earlier converted, each preferred share automatically converts into 49.474 to 60.606 common shares on May 15, 2028.
- No common dividends or share repurchases allowed unless all accumulated preferred dividends are paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1236275/000110465925052978/0001104659-25-052978-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1236275/000110465925052978/tm2515387d9_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-052978

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