GREENWICH, Conn. — QXO Inc., a company expected to become a tech-forward leader in the building products distribution industry, announced Monday that it has entered into purchase agreements with certain institutional and accredited investors for a new $620 million private placement financing of an aggregate 67,833,699 shares of QXO common stock at a price of $9.14 per share.
White House Senior Adviser Jared Kushner, right, listens to then-President Trump during a breakfast with business leaders in the White House, Jan. 23, 2017.AP Photo/Pablo Martinez Monsivais, File
The company further announced that it closed its previously reported $3.5 billion private placement financing on July 19.
Following the closing of the new private placement, QXO will have no debt and cash of approximately $5 billion, reflecting the $620 million proceeds of the new private placement, the $3.5 billion proceeds of the previously reported private placement, and investments of $900 million from Jacobs Private Equity and $100 million from Sequoia Heritage and other co-investors. The company intends to use the proceeds of these investments to grow its business through acquisitions.
Following the closing, QXO will have approximately 409.4 million outstanding shares of common stock.
