QXO, Inc. has secured a significant private placement financing of $830 million. The company plans to use the funds to acquire Beacon Roofing Supply, Inc., which is currently engaged in a tender offer process.
Under the terms of the deal, QXO will issue approximately 67.5 million shares of common stock at $12.30 per share. Existing and new investors participated in the transaction.
The funding will be used for the proposed acquisition of Beacon Roofing Supply, Inc., which is expected to close once the tender offer process is completed. The company has agreed to file a prospectus supplement with the SEC to register the resale of the common stock sold in the private placement promptly after closing.
QXO’s management believes that the funding will provide sufficient capital for the acquisition and support its growth strategy. However, the deal is subject to regulatory approvals and other conditions.
Investors and security holders are advised to carefully review the tender offer statement and solicitation/recommendation statement filed with the SEC for important information regarding the proposed acquisition. The materials can be obtained from the SEC’s website or by contacting Innisfree M&A Incorporated, the information agent for the tender offer.
Source: https://www.businesswire.com/news/home/20250317324389/en/QXO-Raises-%24830-Million-in-Private-Placement