Company: QXO-PB
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001104659-25-052059
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Company: QXO, Inc.
Filing Date: 2025-05-22
Form: 424B5
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TABLE OF CONTENTS

Filed Pursuant to Rule 424(b)(5) Registration No. 333-281084 PROSPECTUS SUPPLEMENT
(To Prospectus dated July 29, 2024) 10,000,000 Depositary Shares
Each Representing a 1/20th Interest in a Share of
5.50% Series B Mandatory Convertible Preferred Stock 5.50% Series B Mandatory Convertible Preferred Stock QXO, Inc. is offering 10,000,000 depositary shares (“Depositary Shares”), each of which represents a 1/20th interest in a share of our 5.50% Series B Mandatory Convertible Preferred Stock, par value $0.001 per share (“Mandatory Convertible Preferred Stock”). The shares of Mandatory Convertible Preferred Stock will be deposited with Equiniti Trust Company, LLC, as bank depositary, pursuant to a deposit agreement. Holders of the Depositary Shares will be entitled to a proportional fractional interest in the rights and preferences of the Mandatory Convertible Preferred Stock, including conversion, dividend, liquidation and voting rights, subject to the provisions of such deposit agreement. Dividends on our Mandatory Convertible Preferred Stock will be payable on a cumulative basis when, as and if declared by our board of directors, or an authorized committee of our board of directors, at an annual rate of 5.50% on the liquidation preference of $1,000 per share. We may pay declared dividends in cash or, subject to certain limitations, in shares of our common stock, par value $0.00001 per share (“common stock”), or in any combination of cash and common stock on February 15, May 15, August 15 and November 15 of each year, commencing on, and including, August 15, 2025 and ending on, and including, May 15, 2028. Each share of our Mandatory Convertible Preferred Stock has a liquidation preference of $1,000 (and, correspondingly, each Depositary Share represents a liquidation preference of $50). Unless earlier converted, each share of our Mandatory Convertible Preferred Stock will automatically convert on the second business day immediately following the last trading day of the final averaging period (as defined below) into between 49.4740 and 60.6060 shares of our common stock, subject to anti-dilution adjustments. The number of shares of our common stock issuable on conversion will be determined based on the