QXO, Inc. announced a $1.2 billion investment led by Apollo Global Management for future acquisitions.
The investment is in the form of convertible perpetual preferred stock to enhance financial flexibility.
The preferred stock pays a dividend rate of 4.75% per annum and can be converted into common stock at $23.25 per share.
Investment Details
$1.2 billion investment in convertible perpetual preferred stock by Apollo and other investors for acquisitions.
Dividend Rate
The preferred stock carries a 4.75% annual dividend rate to investors.
Conversion Terms
Convertible preferred stock can be converted into common stock at $23.25 per share.
- The investment strengthens QXO's financial position, providing resources for strategic acquisitions.
- QXO's potential to generate value for shareholders is amplified with increased financial flexibility from the investment.
The investment agreement with Apollo and other investors signifies a significant step for QXO towards its growth and strategic acquisition plans in the building products industry.