QXO raises $1.5 billion in public stock offerings

Eric J. Sekler Chief Operating Officer Paul
Eric J. Sekler Chief Operating Officer - Paul
0Comments

QXO, Inc., a company in the building products distribution industry, has successfully raised $1.5 billion through public offerings. The offerings included $920 million of common stock and $575 million of depositary shares. Each depositary share represents a 1/20th interest in a share of QXO’s 5.50% Series B mandatory convertible preferred stock.

The funds from these offerings will be used to repay indebtedness under QXO’s term loan facility. This financial move is expected to enhance the company’s position for future acquisition opportunities. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC were the lead joint bookrunning managers for the transaction.

Paul, Weiss advised QXO on this financial endeavor. The team was led by corporate partner David Huntington and counsel David Sobel, with contributions from partner Kerri Durso and tax partner Scott Sontag and counsel Alyssa Wolpin.



Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Christina Guerola Sarchio President Dechert

Dechert advises Pagaya on $300M inaugural securitization

Dechert has provided advisory services to Pagaya Technologies LTD on its first securitization of point-of-sale loans, known as POSH 2025-1.

David W. Barrett Executive Partner Faegre Drinker

UK introduces ‘failure to prevent fraud’ corporate offence effective September 2025

A new corporate offence of “failure to prevent fraud” is set to be enacted on September 1, 2025.

Gina M. Kastel Chair Faegre Drinker

Supreme Court clarifies NEPA’s scope in Seven County Infrastructure Coalition case

On May 29, 2025, the U.S. Supreme Court issued a decision in the case of Seven County Infrastructure Coalition v. Eagle County, No. 23-975.

Trending

The Weekly Newsletter

Sign-up for the Weekly Newsletter from Big Law Reporter.