Company: QXO-PB
Filing Date: 2025-03-18
Form Type: DFAN14A
Source: 0000950142-25-000771
Chunk: 5

Company: QXO, Inc.
Filing Date: 2025-03-18
Form: DFAN14A
Chunk 5
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 executives told The Wall Street
Journal.

The Details

QXO is expected to announce the private placement later Monday. The closing
of it is contingent upon Jacobs completing an outstanding all-cash tender offer to acquire Beacon Roofing Supply.

As part of the private placement agreement, QXO is expected to sell roughly
67.5 million shares of its common stock at a price of $12.30 per share. The deal includes new and existing investors, such as Sequoia
Heritage, according to people familiar with the matter. QXO shares changed hands Monday afternoon at around $13, giving the company a
market value of $5.3 billion.

This latest equity raise will bring QXO’s total capital raised to
about $6 billion.

The context

Jacobs, who has built multibillion-dollar companies in logistics and other
sectors through acquisitions, agreed in late 2023 to invest about $1 billion into a small, publicly traded software company—SilverSun
Technologies—and renamed it QXO.

QXO has yet to strike its first big deal, but is in discussions for one.
QXO and Beacon said last week their deal talks had turned friendly after QXO upped its proposal to $124.35 a share, 10 cents higher than
an earlier tender offer. (The latest offer values Beacon, the largest publicly traded distributor of roofing materials and related building
products in the U.S. and Canada, at around $7.7 billion, or $11 billion including debt.)

Jacobs has said previously he expects QXO’s annual revenue to grow
to $50 billion in the coming years, in large part through dealmaking.

Forward-Looking Statements

This communication contains forward-looking
statements. Statements that are not historical facts, including statements about beliefs, expectations, targets, goals, regulatory approval
timing and nominating directors are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals
at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking
statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,”
“opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,”
“predict,” “potential,” “target,” “goal,” or “continue,” or the negative of
these terms or other comparable terms. Forward