Company: QXO-PB
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001104659-25-052059
Chunk: 27

Company: QXO, Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 27
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ible Preferred Stock (which we refer to as the “initial issue date”) the terms of which do not expressly provide that such capital stock ranks either (x) senior to the Mandatory Convertible Preferred Stock as to dividend rights or rights upon our liquidation, winding-up or dissolution or (y) on a parity with the Mandatory Convertible Preferred Stock as to dividend rights and rights upon our liquidation, winding-up or dissolution (which we refer to collectively as “junior stock”);

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on a parity with any class or series of capital stock issued after the initial issue date the terms of which expressly provide that such capital stock will rank on a parity with the Mandatory Convertible Preferred Stock as to dividend rights and rights upon our liquidation, winding-up or dissolution (which we refer to collectively as “parity stock”);

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junior to (i) our existing convertible perpetual preferred stock (the “Convertible Perpetual Preferred Stock”) and (ii) each class or series of capital stock issued after the initial issue date the terms of which expressly provide that such capital stock will rank senior to the Mandatory Convertible Preferred Stock as to

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dividend rights or rights upon our liquidation, winding-up or dissolution (which we refer to collectively as “senior stock”); and

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junior to our existing and future indebtedness.

In addition, the Mandatory Convertible Preferred Stock, with respect to dividend rights and rights upon our liquidation, winding-up or dissolution, will be structurally subordinated to existing and future indebtedness of our subsidiaries as well as the capital stock of our subsidiaries held by third parties.

At March 31, 2025, we had 1,000,000 shares of the Convertible Perpetual Preferred Stock, constituting senior stock, outstanding, and, after giving effect to the Transactions, we would have had $3,555.1 million of outstanding indebtedness.

Use of proceeds

We expect the net proceeds from this offering to be approximately $484.8 million (or approximately $557.6 million if the underwriters exercise in full their over-allotment option to purchase additional Depositary Shares) after deducting the underwriting discounts and commissions and our estimated offering expenses. We intend to use the net proceeds from this offering, together with the net proceeds from the Common Stock Offering, if completed, to repay indebtedness under our Term Loan Facility, which will strengthen our position with respect to future acquisition opportunities, as described in