QXO Inc. raised another $750 million through a common stock offering, selling 31.6 million shares at $23.80 each. This follows a recent $3 billion convertible preferred financing round led by Apollo Global Management and Temasek. The building products operator's total capital raise since year-start now reaches $3.75 billion, significantly expanding its acquisition firepower.

The new capital adds to QXO's estimated $11 billion in dry powder for deals. This war chest is being deployed amid late-stage discussions with seven potential acquisition targets, including mid-sized U.S. and European family-owned companies. The move signals CEO Brad Jacobs' aggressive push toward his goal of $50 billion in annual revenue within a decade.

Oppenheimer analyst Scott Schneeberger raised his price target on QXO to $30, calling the capital raise a positive catalyst. He believes the company can acquire at least $500 million in incremental EBITDA with this new funding. This follows QXO's $11 billion purchase of Beacon Roofing Supply last year and its failed bid for GMS.