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Reaffirms Commitment to Acquiring Beacon for $124.25 per Share in Cash All-Cash Offer Provides Significant and Immediate Value to Beacon Shareholders GREENWICH, Conn., Jan. 28, 2025 (GLOBE NEWSWIRE) -- QXO, Inc. (NYSE:QXO) today commented on Beacon Roofing Supply, Inc.'s (NASDAQ:BECN) adoption of a shareholder rights plan, which takes immediate effect and is aimed at blocking QXO's all-cash tender offer to acquire all outstanding shares of Beacon for $124.25 per share. "We launched our all-cash tender offer to ensure that Beacon's shareholders can take advantage of our compelling offer and get paid quickly. We have committed financing, have no due diligence condition and anticipate a
GREENWICH, Conn., Jan. 27, 2025 (GLOBE NEWSWIRE) -- QXO, Inc. (NYSE:QXO) today announced that it is commencing an all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) for $124.25 per share. This price implies a 37% premium above Beacon's 90-day unaffected volume-weighted average price of $91.02 per share as of November 15, 2024. The total transaction enterprise value is approximately $11 billion. QXO intends to complete the acquisition quickly after the tender offer expires in 20 business days, subject to the terms of the offer. The proposed transaction is not subject to any contingencies related to financing or due diligence. QXO expects
GREENWICH, Conn., Jan. 15, 2025 (GLOBE NEWSWIRE) -- QXO, Inc. (NASDAQ:QXO) today announced that it has made public a proposal to the Board of Directors of Beacon Roofing Supply, Inc. (NASDAQ:BECN) to acquire all outstanding shares of Beacon for $124.25 per share in cash. The proposal implies a total transaction value of approximately $11 billion and a 37% premium above Beacon's 90-day unaffected volume-weighted average price of $91.02. "Our all-cash offer provides compelling value. We believe Beacon shareholders have a right to evaluate our proposal, despite the attempt by Beacon's Board of Directors to withhold it from them," said Brad Jacobs, chairman and chief executive officer of QXO.
GREENWICH, Conn., Jan. 06, 2025 (GLOBE NEWSWIRE) -- QXO, Inc. (NASDAQ:QXO) today announced that it will transfer the listing of its common stock to the New York Stock Exchange ("NYSE") from the Nasdaq Stock Market ("Nasdaq"). The company will retain its stock ticker, QXO. QXO expects to begin trading on the NYSE on January 17, 2025, when Chairman and Chief Executive Officer Brad Jacobs will ring the Opening Bell. The company's stock will continue to trade on Nasdaq until the transfer is complete. "We're excited to list QXO's shares on the Big Board," Jacobs said. "The public companies I founded prior to QXO and listed on the NYSE have all delivered outsized shareholder value. We intend t
GREENWICH, Conn., Nov. 13, 2024 (GLOBE NEWSWIRE) -- QXO, Inc. (NASDAQ:QXO) today announced its financial results for the third quarter 2024. The company reported a loss of $0.01 per basic and diluted share attributable to common shareholders. THIRD QUARTER 2024 SUMMARY RESULTS Three Months Ended Nine Months Ended September 30, September 30, Percent September 30, September 30, Percent(in thousands) 2024 2023 Change 2024 2023 ChangeRevenue: Software product, net$3,028 $2,850 6.2% $10,284 $9,471 8.6%Service and other, net 10,127 10,573 (4.2)% 31,846 30,337 5.0%Total revenue, net$13,155 $13,423 (2.0)% $42,130 $39,808 5.8%
GREENWICH, Conn., Nov. 07, 2024 (GLOBE NEWSWIRE) -- QXO, Inc. (NASDAQ:QXO) today announced that Ashwin Rao has been appointed chief artificial intelligence officer, effective immediately. He will serve as the company's principal AI architect, as QXO becomes a leader in the $800 billion building products distribution industry. Brad Jacobs, chairman and chief executive officer of QXO, said, "Artificial intelligence will permeate everything we do at QXO, including demand forecasting, inventory management and e-commerce. Ashwin is recognized as one of the brightest minds in enterprise AI. He will be instrumental in making QXO the most tech-forward company in the industry."
GREENWICH, Conn., Aug. 14, 2024 (GLOBE NEWSWIRE) -- QXO, Inc. (NASDAQ:QXO) today announced its second quarter results for the three and six months ended June 30, 2024. Financial Highlights for the Three Months Ended June 30, 2024, Compared with the Three Months Ended June 30, 2023: Total revenue was $14.54 million, compared with $13.26 million.Software product revenue was $3.78 million, compared with $3.30 million.Service and other revenue was $10.76 million, compared with $9.96 million.Net loss was ($591,000) or ($9.93) loss per basic and diluted share, compared with net income of $344,000 or $0.52 earnings per basic and diluted share.Adjusted EBITDA, a non-GAAP measure, was ($1.21) mil
Closes Previously Announced $3.5 Billion Private Placement Company Expects to Have Approximately $5.0 Billion in Cash and No Debt After New Private Placement Closes GREENWICH, Conn., July 22, 2024 (GLOBE NEWSWIRE) -- QXO, Inc. (NASDAQ:QXO) (the "Company" or "QXO"), a company expected to become a tech-forward leader in the building products distribution industry, today announced that it has entered into purchase agreements with certain institutional and accredited investors for a new $620 million private placement financing of an aggregate 67,833,699 shares of QXO common stock at a price of $9.14 per share (the "New Private Placement").
GREENWICH, Conn., June 13, 2024 (GLOBE NEWSWIRE) -- QXO, Inc. (NASDAQ:QXO) (the "Company" or "QXO"), a company expected to be a tech-forward leader in the building products distribution industry, today announced that it has entered into purchase agreements with certain institutional and accredited investors for a $3.5 billion private placement financing (the "Private Placement"). In the Private Placement, the Company is selling an aggregate of 340,932,212 shares of its common stock at a price of $9.14 per share, and an aggregate of 42,000,000 pre-funded warrants at a price of $9.13999 per warrant. QXO has obtained written consent from its shareholders approving the Private Placemen
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GREENWICH, Conn., Nov. 13, 2024 (GLOBE NEWSWIRE) -- QXO, Inc. (NASDAQ:QXO) today announced its financial results for the third quarter 2024. The company reported a loss of $0.01 per basic and diluted share attributable to common shareholders. THIRD QUARTER 2024 SUMMARY RESULTS Three Months Ended Nine Months Ended September 30, September 30, Percent September 30, September 30, Percent(in thousands) 2024 2023 Change 2024 2023 ChangeRevenue: Software product, net$3,028 $2,850 6.2% $10,284 $9,471 8.6%Service and other, net 10,127 10,573 (4.2)% 31,846 30,337 5.0%Total revenue, net$13,155 $13,423 (2.0)% $42,130 $39,808 5.8%
GREENWICH, Conn., Aug. 14, 2024 (GLOBE NEWSWIRE) -- QXO, Inc. (NASDAQ:QXO) today announced its second quarter results for the three and six months ended June 30, 2024. Financial Highlights for the Three Months Ended June 30, 2024, Compared with the Three Months Ended June 30, 2023: Total revenue was $14.54 million, compared with $13.26 million.Software product revenue was $3.78 million, compared with $3.30 million.Service and other revenue was $10.76 million, compared with $9.96 million.Net loss was ($591,000) or ($9.93) loss per basic and diluted share, compared with net income of $344,000 or $0.52 earnings per basic and diluted share.Adjusted EBITDA, a non-GAAP measure, was ($1.21) mil