Correction: QXO Announces $3.5 Billion Private Placement
Summary
The corrected release follows.QXO, Inc. (Nasdaq: QXO) (the Company or QXO), a company expected to be a tech-forward leader in the building products distribution industry, today announced that it has entered into purchase agreements with certain institutional and accredited investors for a $3.5 billion private placement financing (the Private Placement).In the Private Placement, the Company is selling an aggregate of 340,932,212 shares of its common stock at a price of $9.14 per share, and an aggregate of 42,000,000 pre-funded warrants at a price of $9.13999 per warrant. The Company provides consulting and professional services, specialized programming, training and technical support, and develops proprietary software. As a value-added reseller of business application software, QXO offers solutions for accounting, financial reporting, enterprise resource planning, warehouse management systems, customer relationship management, business intelligence and other applications.QXO plans to become a tech-forward leader in the $800 billion building products distribution industry. The Company is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth. The Company undertakes no obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.