Form 8-K · Current Report · Filed 2024-07-22
QXO Announces $620 Million Private Placement and New Board Member
On July 22, 2024, QXO, Inc. announced a new private placement of 67,833,699 shares of its common stock at $9.14 per share, totaling approximately $620 million. The private placement is expected to close on July 25, 2024, following which the company will have approximately 409.4 million outstanding shares of common stock. Additionally, QXO closed its previously announced $3.5 billion private placement on July 19, 2024. Jared C. Kushner, founder of Affinity Partners, was appointed to the company's board of directors, effective immediately.
- Filer
- Qxo Inc. QXO · NYSE
- Filed
- Accession
- 0001104659-24-081341
- CIK
- 0001236275
- Signal
- Medium impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Unregistered Sales of Equity Securities
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Other Events
Financial Statements and Exhibits
Market reaction
Close before filing
$58.61
Next session
+35.3%
Since filing
-77.3%
Latest close
$13.30
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from QXO reporting the same item, with the next session's move:
Exhibits (2)
About Qxo Inc.
Qxo Inc. is a company engaged in the innovative technology sector, specializing in developing software solutions that enhance business processes for small and medium enterprises (SMEs). It provides integrated platforms designed to streamline customer relationship management, inventory control, and financial reporting, all vital components for driving operational efficiency. Qxo Inc.'s products are particularly impactful in industries such as retail, healthcare, and professional services, offering scalability and customization tailored to specific client needs. The company's comprehensive approach ensures that businesses can leverage data analytics for strategic planning and decision-making. Headquartered in a technology hub, Qxo Inc. plays a significant role in the digital transformation landscape, continuously adapting to advancements and market demand. Its focus on user-friendly interfaces and seamless integration with existing systems positions Qxo Inc. as a crucial partner for enterprises aiming to leverage technology for growth and competitiveness in modern markets.
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