QXO secures $1.2 billion investment from Apollo for acquisitions

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Go back to QXO secures $1.2 billion investment from Apollo for acquisitions

QXO Announces $1.2 Billion Convertible Preferred Equity Investment Led by Apollo to Fund Future Acquisitions

January 5, 2026 6:00 AM EST

GREENWICH, Conn.--(BUSINESS WIRE)-- QXO, Inc. (NYSE: QXO) (the Company or QXO) today announced that funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (Apollo) and certain other investors have agreed to invest $1.2 billion in QXO through a new series of convertible perpetual preferred stock. The investment further strengthens QXOs financial flexibility in pursuing acquisition opportunities.

Under the investment agreement, the investors have committed to purchase the new convertible preferred stock to fund one or more qualifying acquisitions through July 15, 2026. This commitment will be... More