NYSE:QXOTrade Distributors
QXO (QXO) Is Up 6.4% After $1.15 Billion Preferred Raise For M&A Firepower - Has The Bull Case Changed?
In January 2026, QXO, Inc. agreed to issue up to 114,500 Series C Convertible Perpetual Preferred Shares at US$10,000 each, raising up to US$1.15 billion from investors including Apollo-affiliated AP Quince Holdings and Franklin Advisers, with a 4.75% annual dividend and conversion option at US$23.25 per share.
The deal, expected to close in July 2026 and subject to transfer restrictions until April 2027, adds substantial, flexible capital that QXO has flagged as potential firepower for...