QXO Inc Stock Price, News & Analysis

QXO announced the launch of two concurrent public offerings expected to raise $1.0 billion in aggregate gross proceeds. The offerings include: (1) shares of common stock and (2) depositary shares, each representing a 1/20th interest in Series B Mandatory Convertible Preferred Stock. Additional over-allotment options could add $150 million if fully exercised. The company plans to use proceeds to repay senior secured term loan debt, strengthening its position for future acquisitions. The Mandatory Convertible Preferred Stock will have a $1,000 per share liquidation preference and will automatically convert to common stock by May 15, 2028. QXO plans to list the Depositary Shares on NYSE under "QXO.PRB". Goldman Sachs and Morgan Stanley are leading the offerings as joint bookrunning managers.

QXO (NYSE: QXO) reported its Q1 2025 financial results, posting a loss of $(0.03) per share. Total revenue declined 6.4% to $13.5 million from $14.4 million in Q1 2024. The company's software product revenue showed modest growth of 1.1% to $3.5 million, while service revenue decreased 8.8% to $10.0 million.

Despite revenue challenges, net income increased significantly to $8.8 million, boosted by $56.6 million in interest income. However, Adjusted EBITDA turned negative at $(8.9) million compared to positive $0.5 million in Q1 2024, primarily due to increased employee costs from new senior management hires. The company recently completed an $11 billion acquisition of Beacon, positioning itself in the $800 billion building products distribution industry.

QXO has successfully completed its acquisition of Beacon Roofing Supply in an $11 billion transaction, paying $124.35 per share. This strategic move positions QXO as the largest publicly traded distributor of roofing, waterproofing, and building products in the United States.

The tender offer concluded with 44,835,447 shares (72.06% of outstanding shares) being validly tendered. QXO acquired remaining shares through a second-step merger, making Beacon a wholly owned subsidiary. Beacon's shares ceased trading on Nasdaq Global Select Market on April 29, 2025.

Key highlights:

• QXO will ring the NYSE Opening Bell on April 30
• Company closed $830 million equity private placement
• Morgan Stanley led as financial advisor
• Transaction aims to create tech-enabled leadership in $800 billion building products distribution industry

QXO (NYSE: QXO) announced that its subsidiary, Queen MergerCo, has successfully priced a $2.25 billion offering of 6.75% Senior Secured Notes due 2032, representing a $250 million increase from the previously announced $2 billion offering.

The notes offering, expected to close on April 29, 2025, is part of QXO's planned acquisition of Beacon Roofing Supply. The proceeds will be combined with new senior secured credit facilities, proceeds from QXO's previously announced equity offerings, and available balance sheet cash to fund the acquisition and related expenses.

The notes are being offered exclusively to qualified institutional buyers under Rule 144A and certain non-U.S. persons through Regulation S, and have not been registered under the Securities Act.

QXO Inc (NYSE: QXO) announced that its subsidiary, Queen MergerCo, plans to offer $2 billion in Senior Secured Notes due 2032 to partially fund its previously announced acquisition of Beacon Roofing Supply. The notes will be guaranteed on a senior secured basis by Beacon's domestic restricted subsidiaries.

The funding package includes these notes, borrowings under new senior secured credit facilities, proceeds from QXO's equity offerings, and available balance sheet cash. Upon acquisition completion, Queen MergerCo will merge with Beacon, making it a wholly owned QXO subsidiary. The notes will be secured by first-priority liens on Beacon's material assets (excluding ABL Priority Collateral) and second-priority liens on inventory and accounts receivable.

QXO (NYSE: QXO) has extended its all-cash tender offer to acquire Beacon Roofing Supply (Nasdaq: BECN) at $124.35 per share. The tender offer will remain open until April 28, 2025, with the transaction expected to close around the same time. As of April 19, 2025, approximately 23,820,838 shares (38.32% of outstanding shares) have been validly tendered.

The acquisition has already received antitrust clearance in both the U.S. and Canada. Beacon's board of directors has unanimously recommended shareholders to tender their shares. The deal's completion is subject to securing a majority of Beacon shares and other customary closing conditions.

QXO (NYSE: QXO) has announced the pricing of its public offering of 37,735,850 shares of common stock at $13.25 per share. The offering is expected to close on April 21, 2025, with underwriters having an option to purchase an additional 5,660,377 shares.

The company plans to use the net proceeds to partially finance the pending acquisition of Beacon Roofing Supply. The offering is not contingent on the acquisition's completion. Morgan Stanley and Goldman Sachs are serving as the underwriters for this offering.

QXO (NYSE: QXO) has announced plans for a $500 million common stock offering, with an additional option for underwriters to purchase up to $75 million of shares at the same price. The company plans to use the proceeds to partially finance the pending acquisition of Beacon Roofing Supply.

Morgan Stanley and Goldman Sachs are serving as underwriters for the offering, which will be conducted through various transaction methods including the NYSE and over-the-counter market. The offering will be made through a prospectus supplement under QXO's effective registration statement on Form S-3ASR.

QXO (NYSE: QXO) has appointed tech industry veteran Val Liborski as its new Chief Technology Officer, effective April 21, 2025. Liborski brings extensive experience from leading technology companies, having previously served as CTO at Yahoo and HelloFresh. His background includes leadership roles at Amazon Web Services, where he led engineering and product management, and oversaw technology for Amazon's European consumer business expansion.

Prior to these positions, Liborski held senior engineering positions at Microsoft, where he developed large-scale data systems for Bing and AI-driven advertising platforms. QXO's Chairman and CEO Brad Jacobs emphasized that Liborski's experience with high-performance companies will provide QXO with a significant competitive advantage.