Company: QXO-PB
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001104659-25-052059
Chunk: 44

Company: QXO, Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 44
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 of our common stock or other securities convertible into common stock (other than those set forth under the section titled “Description of Mandatory Convertible Preferred Stock — Anti-dilution Adjustments”) for cash or in connection with acquisitions or third-party tender or exchange offers, which may adversely affect the market price of our common stock, may not result in any adjustment. Further, if any of these other events adversely affects the market price of our common stock, it may also adversely affect the market price of the Depositary Shares. In addition, the terms of our Mandatory Convertible Preferred Stock and the Depositary Shares do not restrict our ability to

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offer common stock or other securities convertible into common stock in the future, including offering a new series of preferred stock that ranks equally with our Mandatory Convertible Preferred Stock as to dividend payments and liquidation preference, or to engage in other transactions that could dilute our common stock. We have no obligation to consider the specific interests of the holders of our Mandatory Convertible Preferred Stock or the Depositary Shares in engaging in any such offering or transaction.

The Convertible Perpetual Preferred Stock will rank senior to the Mandatory Convertible Preferred Stock as to dividend payments and liquidation preference, which may negatively affect your investment.

The Convertible Perpetual Preferred Stock will rank senior to the Mandatory Convertible Preferred Stock as to dividend rights and rights upon our liquidation, winding-up or dissolution. The existence of the Convertible Perpetual Preferred Stock will therefore have the effect of reducing the amounts available to the holders of the Mandatory Convertible Preferred Stock (and, accordingly, to holders of the Depositary Shares) in the event of our liquidation, winding-up or dissolution. Moreover, if we do not have sufficient funds to pay dividends on the outstanding Mandatory Convertible Preferred Stock (and, accordingly, the Depositary Shares) and the outstanding Convertible Perpetual Preferred Stock, dividends on the Convertible Perpetual Preferred Stock would have to be paid in full before any dividends could be paid on the Mandatory Convertible Preferred Stock (and, accordingly, the Depositary Shares).

The Common Stock Offering, and the possibility of the sale or issuance of our common stock in the future, could reduce the market price of our common stock and, in turn, the Depositary Shares.

Concurrently with this offering, we are also making a public offering of 48,484,849 shares of our common stock. In the Common Stock Offering, we have granted