QXO drops after $753 mln stock sale

QXO

16/01/2026 11:41

**  Shares of building-products distributor QXO QXO.N down 5.3% premarket to $23.70 after overnight follow-on priced

** Greenwich, Connecticut-based QXO announced ~31.6 mln shares at $23.80 for roughly $753.2 mln gross raise

** Offering price represents 4.9% discount to stock's last close

** QXO intends to use net proceeds for general purposes, including funding future acquisitions

** BofA sole underwriter

** Co after the bell Thurs said it expects Q4 net sales of $2.19 bln and adj EBITDA of about $150 mln

** Billionaire Brad Jacobs' firm on Mon boosted its M&A war chest by another $1.8 bln to $3 bln in a financing led by Apollo Global Management APO.N and Singapore's Temasek

** QXO has ~674.5 mln shares outstanding for nearly $17 bln market cap based on last close

** Through Thurs, QXO shares up 30% to begin 2026 after about 21% gain in 2025

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))