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QXO Secures $620 Million in New Private Placement Following $3.5 Billion Private Placement
- Client News
- July 22, 2024
Practices
Paul, Weiss is advising QXO, Inc., a public company launched by CEO Brad Jacobs in the building products distribution industry, in a new $620 million private investment in public equity (PIPE) transaction. The financing follows the close of a $3.5 billion PIPE the firm advised on last month.
Under the terms of the new private placement agreements, QXO is selling 67.8 million shares of its common stock at $9.14 per share. The transaction, which includes a $150 million investment from Affinity Partners, is expected to close on July 25, 2024. The earlier $3.5 billion private placement closed on July 19.
The Paul, Weiss team is led by corporate partner David Huntington and includes counsel David Sobel; tax partner Scott Sontag; and antitrust counsel Yuni Sobel and John Magruder.