QXO Secures $1.2 Billion Convertible Preferred Equity Investment Led by Apollo

Paul, Weiss is advising QXO, Inc., a public company launched by CEO Brad Jacobs in the building products distribution industry, on an investment agreement providing for the issuance of $1.2 billion of convertible preferred stock to investors led by funds managed by affiliates of Apollo Global Management. Under the agreement the investors have committed to purchase the new convertible preferred stock to fund one or more qualifying acquisitions.

The Paul, Weiss team is led by corporate partner David Huntington and includes partner David Sobel; and tax partner Scott Sontag and counsel Alyssa Wolpin.