QXO, Inc. announces a $1.8 billion increase in financing, leading to a total investment of $3 billion by Apollo and Temasek.
The investment is made through convertible perpetual preferred stock, enhancing QXO's financial flexibility for strategic acquisitions.
Investors have committed to purchasing Series C Preferred Stock to fund qualifying acquisitions, with the option to extend the commitment period.
Increased Financing
QXO raised an additional $1.8 billion, totaling the investment at $3 billion.
Convertible Preferred Stock
The investment is in convertible perpetual preferred stock for financial flexibility.
Strategic Acquisitions
Funds will be used to finance one or more qualifying acquisitions by QXO.
- The investment strengthens QXO's position to pursue strategic acquisitions and drive growth.
- The commitment period extension provides flexibility for future acquisition opportunities.
QXO's increased financing through convertible preferred stock opens avenues for strategic acquisitions, positioning the company for growth and expansion in the building products distribution industry.