QXO announces $500M offering of common stock

QXO (QXO) announced it intends to make an offering of $500M of shares of its common stock. QXO intends to use the net proceeds from the offering to finance a portion of the consideration for the pending acquisition of Beacon Roofing Supply (BECN). However, the offering is not contingent on the consummation of the acquisition. Morgan Stanley Co. and Goldman Sachs & Co. are acting as the underwriters for the offering.