QXO Signs Investment Agreement With Apollo Global Management
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QXO has signed an Investment Agreement to issue up to $1.145 billion in Series C Convertible Perpetual Preferred Stock to Apollo Global Management and other investors. The capital, available until July 15, 2026, will finance qualifying acquisitions and related expenses. The preferred stock offers a 4.75% dividend and is convertible into common stock at an initial price of $23.25 per share, subject to conditions. The agreement is effective from January 5, 2026, with a potential extension of up to 12 months.
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