Company: QXO-PB
Filing Date: 2025-04-18
Form Type: 424B5
Source: 0001140361-25-014598
Chunk: 31

Company: QXO, Inc.
Filing Date: 2025-04-18
Form: 424B5
Chunk 31
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 expenditures, business development or other general corporate requirements, including dividends, if and when declared by our board of directors; |

| • | increasing our vulnerability to general adverse economic and industry conditions; |

| • | making us more highly leveraged than some of our competitors, which may place us at a competitive disadvantage; |

| • | restricting us from making strategic acquisitions, engaging in development activities or exploiting business opportunities; |

| • | causing us to make non-strategic divestitures; |

| • | exposing us to the risk of increased interest rates as certain of our borrowings are and may in the future be at variable rates of interest; |

| • | limiting our flexibility in planning for and reacting to changes in our industry; |

| • | impacting our effective tax rate; and |

| • | increasing our cost of borrowing. |

In addition, the credit agreement expected to govern the Credit Facilities and the indenture expected to govern the Notes are expected to contain restrictive covenants that will limit our ability to engage in activities

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**that may be in our long-term best interest. Our failure to comply with those covenants could result in an event of default which, if not cured or waived, could result in the acceleration of substantially all of our indebtedness.

The unaudited pro forma combined financial information included and incorporated by reference in this prospectus supplement includes preliminary assumptions regarding the borrowings expected to be incurred to finance the Acquisition, including assumptions regarding principal amounts and interest rates. As a result, actual amounts of the borrowings, the form of borrowings and the interest rates applicable thereto may differ from the amounts presented herein depending on several factors, including, among others, the amount of cash generated by us prior to the closing of the Debt Financings, the amount of net proceeds from this offering of Common Stock and differences from our estimated fees and expenses, and such differences may be significant. Accordingly, there can be no assurance that the Debt Financings will be completed on the terms described in this prospectus supplement, or at all. Despite our substantial indebtedness, we may still be able to incur significantly more debt, which could intensify the risks associated with our indebtedness.

We and our subsidiaries may be able to incur substantial indebtedness in the future, even following the incurrence of indebtedness in connection with the Transactions. Although we expect that the terms of the indenture that will govern the Notes and the credit agreement that will govern the Credit Facilities will contain