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AI brief of an SEC Form 8-K · RXO (RXO)

RXO Announces $550 Million Private Placement to Help Fund Coyote Logistics Deal

Neutral Impact 4 of 5 financing Written later

RXO agreed to sell 20,954,780 common shares at $20.21 per share, plus pre-funded warrants for 6,259,471 shares, to MFN Partners and Orbis Investments in a private placement with gross proceeds of about $550.0 million. The company plans to use the net proceeds to partially fund its pending acquisition of Coyote Logistics, and the placement is expected to close on August 13, 2024. Shareholders would see more shares outstanding once the placement closes and the warrants are exercised.

Key points

  • Common stock sold at $20.21 per share, the June 21, 2024 closing price before the Coyote Logistics agreement was announced.
  • Pre-funded warrants for 6,259,471 shares priced at $20.20 each, with $0.01 exercise price.
  • Investors agreed to a 120-day lock-up; RXO must file a resale registration statement within 90 days after closing.
  • Stockholder approval for part of the warrant shares must be sought no later than December 31, 2024.

The filing

CompanyRXO (RXO)
Form8-K, current report
Filed with the SECAug 12, 2024, 4:41 PM ET
Accession number0001104659-24-088393

Items reported: 1.01 Material Definitive Agreement3.02 Unregistered Equity Sale7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 12, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.