QXO Raises $500 Million in Public Offering of Common Stock

Paul, Weiss advised QXO, Inc., a public company launched by CEO Brad Jacobs in the building products distribution industry, in a registered public offering of $500 million of common stock. QXO intends to use the net proceeds from the offering to finance a portion of its pending acquisition of Beacon Roofing Supply, Inc., a leading distributor of roofing, waterproofing and exterior products with nearly 600 branches across the U.S. and Canada. Morgan Stanley and Goldman Sachs & Co. LLC acted as joint bookrunners and managers.

The Paul, Weiss team was led by corporate partners David Huntington and Tony Rim, and counsel David Sobel, and included partners Nickolas Bogdanovich, Stan Richards, Scott Barshay and Patricia Vaz de Almeida; tax partner Scott Sontag and counsel Alyssa Wolpin; intellectual property partner Jonathan Ashtor and counsel Matthew Rosenberg; litigation of counsel Martin Flumenbaum, partner Geoffrey Chepiga and counsel Audrey Paquet; and environmental counsel William O'Brien.