Company: QXO-PB
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001104659-25-052059
Chunk: 1

Company: QXO, Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 1
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 average VWAP (as defined herein) of our common stock over the 20-trading-day period beginning on, and including, the 21st scheduled trading day prior to May 15, 2028, which we refer to herein as the “final averaging period.” At any time prior to May 15, 2028, a holder of 20 Depositary Shares may cause the bank depositary to convert one share of our Mandatory Convertible Preferred Stock, on such holder’s behalf, into a number of shares of our common stock equal to the minimum conversion rate of 49.4740, subject to anti-dilution adjustments. If a holder of 20 Depositary Shares causes the bank depositary to convert one share of our Mandatory Convertible Preferred Stock, on such holder’s behalf, during a specified period beginning on the effective date of a fundamental change (as described herein), the conversion rate will be adjusted under certain circumstances, and such holder will also be entitled to a make whole dividend amount (as described herein). Concurrently with this offering, we are also making a public offering of 48,484,849 shares of our common stock, pursuant to a separate prospectus supplement (the “Common Stock Offering”). We have granted the underwriters of the Common Stock Offering a 30-day option to purchase up to an additional 7,272,727 shares of our common stock. The closing of this offering is not conditioned upon the closing of the Common Stock Offering, and the closing of the Common Stock Offering is not conditioned upon the closing of this offering, so it is possible that this offering occurs and the Common Stock Offering does not occur, or vice versa. We cannot assure you that the Common Stock Offering will be completed on the terms described herein, or at all. Nothing contained herein shall constitute an offer to sell or a solicitation of an offer to buy our common stock in the Common Stock Offering. See the section titled “Concurrent Common Stock Offering.” We intend to use the net proceeds of this offering, together with the net proceeds of the Common Stock Offering, if completed, to repay indebtedness under our Term Loan Facility (as defined herein), which will strengthen our position with respect to future acquisition opportunities. See “Use of Proceeds.” See “Risk Factors” beginning on page S-21of this prospectus supplement and in the documents incorporated by reference in this prospectus supplement to read about factors you should consider before buying Depositary Shares. Neither the Securities and Exchange Commission (the “SEC”) nor any state securities