QXO to raise $620 million through private placement, stock rises

Trump is selling DJT shares with the help of his son-in-law may be.

Selling shares privately for under 10 bucks. Watch out retail investors.

Based on the new shares outstanding with the capital raises this company now has a $40 billion market cap? Is that right? $4B in cash and no business?

OMG, these retail buyers today have no clue what will happen to them in the next 15 days upon registration for insiders to unload !!!

They are buying something with 660,000 shares today, BUT LOOK AT THE FOLLOWING COMPANY STATEMENT made for the private placement:

"On a fully diluted basis, following the closing and giving effect to the conversion of the Company’s 1.0 million outstanding shares of preferred stock and the exercise of the 219.0 million outstanding warrants issued with its preferred stock (assuming cash exercise), as well as the exercise of the pre-funded warrants sold in the prior private placement financing, the Company will have approximately 889.4 million outstanding shares of common stock."

OMG, when the dumping is all over, this will be heading down to the $10 area !!!!

Typical SPAC, don't bother to invest until some real meat in this company

I said the following one month ago and it still hold true right now, but now there are EVEN MORE SHARES TO BE DUMPED after this second private offering:

As spelled out in the deal … “the Purchase Agreements provide certain registration rights, pursuant to which the Company has agreed to register the resale of the Shares and the Warrant Shares. The Company is required to use commercially reasonable efforts to file a registration statement with the SEC covering the resale by the Investors of their Shares and the Warrant Shares within 15 business days following the closing of the Private Placement.”

It is AMAZING that the stock price is still this high because retail investors are piling in right now. They will suffer soon.

This will play out in one of 2 ways.

First, it will steadily decline, up until the closing during the first half of July, down towards $10 area.

Or, if retail buyers keep buying and hold the price from having that decline … then, since there is no lockup period, 15 days after the closing, the buyers will dump those 382.9 million shares they bought at $9.14, FOR HUGE PROFITS and thus drive the stock down bigtime !!!

J Kush (DJT's son in law) now on the Board lololololol.

The price has been quite speculative and bound for confusion. I guess it will continue to crash into the $10-$20 range. We'll see I guess

How can the market price this at $60 when they keep issuing at $9-10 for the same common share?