QXO plans $750 million common stock offering

QXO Inc. (NYSE: QXO) announced it intends to offer $750 million in common stock shares, according to a company statement. The building products distributor also plans to grant underwriters an option to purchase an additional $112.5 million in shares at the public offering price, minus underwriting discounts and commissions.

The company stated it will use net proceeds for general corporate purposes, which may include funding future business acquisitions. BofA Securities will serve as the sole underwriter for the offering.

The offering will be conducted through a prospectus supplement under QXO's effective registration statement on Form S-3ASR filed with the Securities and Exchange Commission.

QXO describes itself as the largest publicly traded distributor of roofing, waterproofing and complementary building products in North America. The company has stated plans to reach $50 billion in annual revenues within the next decade through acquisitions and organic growth.

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