QXO, Inc. completed the acquisition of Kodiak Building Partners Inc. (Kodiak) for approximately $2.25 billion. The acquisition consideration included $2,000,000,000 in cash (subject to customary adjustments) and 13,157,895 shares of QXO common stock. QXO retains the right to repurchase the Consideration Shares for $40 per share under specified terms. The acquisition is expected to expand QXO's addressable market to more than $200 billion. QXO filed a Certificate of Designations to establish Series C Convertible Perpetual Preferred Stock, with an initial stated value of $10,000 per share and a 4.75% annual dividend rate. Holders of Series C Preferred Stock are entitled to vote with common stockholders on an as-converted basis and have conversion options at an initial price of $23.25 per share, subject to anti-dilution protections. Certain Kodiak employees re-invested a portion of their after-tax cash proceeds from the merger into QXO Common Stock through Rollover Agreements.