As it finalizes its landmark $11 billion acquisition of Beacon Roofing Supply, QXO announced on April 16 that it intends to make an offering of $500 million of shares of its common stock.

QXO issued a follow-up release pricing its public offering of 37,735,850 shares of common stock at $13.25 per share. The offering is part of the company’s broader capital-raising efforts as it moves forward with expansion plans.

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As part of the offering, QXO intends to grant the underwriters an option to purchase up to an additional $75 million worth of common stock at the same price per share.

QXO added that it plans to use the net proceeds from the offering to finance a portion of the consideration for its pending acquisition of Beacon. However, the offer is not conditional upon the completion of the acquisition.

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Morgan Stanley and Goldman Sachs are joint bookrunners and may sell the shares through various methods, including on the New York Stock Exchange, over-the-counter or negotiated transactions, at market or agreed-upon prices.

On April 16, QXO appointed Val Liborski to the position of Chief Technology Officer, effective April 21.