QXO Inc’s Recent Underwriting Agreement with Major Banks

QXO Inc ( (QXO) ) has issued an announcement.

On May 21, 2025, QXO Inc. entered into an underwriting agreement with Goldman Sachs and Morgan Stanley to issue and sell 10,000,000 depositary shares, representing a 1/20th interest in the company’s 5.50% Series B Mandatory Convertible Preferred Stock, at $50 per share. The company received approximately $557.6 million in net proceeds from the offering. The agreement includes indemnification for the underwriters against certain liabilities. The offering was made under the company’s registration statement filed with the SEC, and the certificate of designations was filed to establish the rights of the preferred stock. The preferred stock will accumulate dividends at a rate of 5.50% per annum and will automatically convert into common stock by May 15, 2028, unless converted earlier.

Spark’s Take on QXO Stock

According to Spark, TipRanks’ AI Analyst, QXO is a Outperform.

QXO’s overall stock score is primarily driven by its strong financial stability and positive technical indicators. However, the score is moderated by valuation concerns due to a negative P/E ratio and absence of dividends. The mixed sentiment from the earnings call, with both strong performance and notable challenges, also influences the overall assessment.

To see Spark’s full report on QXO stock, click here.

More about QXO Inc

Average Trading Volume: 5,172,652

Technical Sentiment Signal: Sell

Current Market Cap: $9.59B

See more insights into QXO stock on TipRanks’ Stock Analysis page.