Qxo Inc.
QXO, Inc. Announces Issuance of Preferred Stock and Amendment to Security Holder Rights
Summary
On May 21, 2025, QXO, Inc. entered into an underwriting agreement to issue and sell 10,000,000 depositary shares of 5.50% Series B Mandatory Convertible Preferred Stock at a public offering price of $50 per share. This resulted in net proceeds of approximately $557.6 million after deducting underwriting discounts, commissions, and estimated offering expenses. The offering was made pursuant to the company's registration statement on Form S-3ASR. Additionally, the company modified the rights of security holders by filing a Certificate of Designations on May 27, 2025, which established the preferences and limitations of the Preferred Stock, including a liquidation preference of $1,000 per share. No dividends will be paid on common stock until all dividends on Preferred Stock are paid. Each Depositary Share automatically converts into between 2.4737 and 3.0303 shares of Common Stock by May 15, 2028. The company also filed a legal opinion regarding the legality of the Depositary Shares and Preferred Stock.
Profitelligence Alerts
Get alerts for QXO
Be first to know when Qxo Inc. files with the SEC.
Filing Categories
Exhibits (4)
Advertisement
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.
Official SEC Documents
Advertisement