QXO QXO, Inc.
Price Chart
Executive Summary
QXO announced cash tender offers for any and all of TopBuild's $500M 4.125% Senior Notes due 2032 and $750M 5.625% Senior Notes due 2034, along with consent solicitations to amend the indentures. The offers are contingent on the closing of QXO's pending acquisition of TopBuild. For the preferred stock (QXO-PB), this is a credit-positive step that reduces TopBuild's debt overhang and eliminates restrictive covenants, supporting the combined entity's credit profile.
Actionable Insight
For QXO-PB holders, the tender offers signal progress toward closing the TopBuild acquisition and proactively address post-merger debt structure. Monitor the early tender deadline (June 11) for participation levels; high uptake would reduce combined leverage and support preferred dividend coverage. The elimination of restrictive covenants also gives the combined entity more financial flexibility.
Key Facts
- QXO commenced tender offers for any and all of TopBuild's $500M 4.125% Senior Notes due 2032 and $750M 5.625% Senior Notes due 2034.
- Total Tender Offer Consideration is $1,011.25 per $1,000 principal amount for each series, including a $50 Early Tender Payment.
- Consent solicitations seek to eliminate change-of-control offer requirements, substantially all restrictive covenants, and most events of default.
- The tender offers and consent solicitations are conditioned on the substantially concurrent consummation of QXO's acquisition of TopBuild.
- Early Tender Deadline and Withdrawal Deadline are June 11, 2026; Expiration Date is June 29, 2026.
Financial Impact
Up to $1.25 billion aggregate principal amount of TopBuild notes to be retired via cash tender, with total consideration of ~$1,011.25 per $1,000 principal plus accrued interest.
Risk Factors
- The tender offers are contingent on closing the TopBuild acquisition, which remains subject to shareholder and regulatory approvals.
- If the acquisition fails to close, the tender offers will not be consummated, and the credit benefits for QXO-PB would not materialize.
- Financing the cash tender adds to QXO's near-term cash needs, though the notes are being retired as part of the acquisition financing plan.
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000950142-26-001551 |
| Document: eh260786667_ex9901.htm | 0000950142-26-001551 |
| Document: 0000950142-26-001551-index-headers.html | 0000950142-26-001551 |
| Document: 0000950142-26-001551-index.html | 0000950142-26-001551 |
| Document: 0000950142-26-001551.txt | 0000950142-26-001551 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
2d ago
|
8-K
| $16.58 awaiting T+1 | awaiting T+1 | — | $16.63 (+0.30%) |
|
Jun 4, 2026
10d ago
|
8-K
| $46.10 awaiting T+1 | awaiting T+1 | — | $16.63 (−63.93%) |
|
Jun 2, 2026
12d ago
|
8-K
| $46.41 $47.08 | ▲ +1.44% | ▲ +2.17% | $16.63 (−64.17%) |
|
Jun 1, 2026
14d ago
|
EFFECT
| $47.79 $46.41 | ▼ −2.89% | ▼ −3.03% | $16.63 (−65.20%) |
|
May 29, 2026
16d ago
|
8-K
| $47.79 $46.41 | ▼ −2.89% | ▼ −3.03% | $16.63 (−65.20%) |
|
Apr 29, 2026
6w ago
|
8-K
| $55.89 $55.07 | ▼ −1.47% | ▼ −1.69% | $16.63 (−70.25%) |
|
Apr 20, 2026
8w ago
|
8-K
| $66.51 $62.81 | ▼ −5.56% | ▼ −4.91% | $16.63 (−75.00%) |
|
Mar 24, 2026
11w ago
|
DEFA14A
| $20.19 $20.46 | ▲ +1.34% | ▲ +0.77% | $16.63 (−17.63%) |
|
Mar 17, 2026
12w ago
|
8-K
| $20.86 $20.13 | ▼ −3.50% | ▼ −2.10% | $16.63 (−20.28%) |
|
Feb 28, 2026
15w ago
|
Institutional Cluster
| $22.92 $21.95 | ▼ −4.23% | ▼ −3.32% | $16.63 (−27.44%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access