0001193125-23-032084.txt : 20230210 0001193125-23-032084.hdr.sgml : 20230210 20230210130100 ACCESSION NUMBER: 0001193125-23-032084 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20230210 DATE AS OF CHANGE: 20230210 GROUP MEMBERS: FARHAD NANJI GROUP MEMBERS: MFN PARTNERS GP, LLC GROUP MEMBERS: MFN PARTNERS MANAGEMENT, LLC GROUP MEMBERS: MFN PARTNERS MANAGEMENT, LP GROUP MEMBERS: MICHAEL F. DEMICHELE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: RXO, Inc. CENTRAL INDEX KEY: 0001929561 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] IRS NUMBER: 882183384 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-93838 FILM NUMBER: 23610051 BUSINESS ADDRESS: STREET 1: 11215 NORTH COMMUNITY HOUSE ROAD CITY: CHARLOTTE STATE: NC ZIP: 28277 BUSINESS PHONE: (980) 308-6058 MAIL ADDRESS: STREET 1: 11215 NORTH COMMUNITY HOUSE ROAD CITY: CHARLOTTE STATE: NC ZIP: 28277 FORMER COMPANY: FORMER CONFORMED NAME: RXO, LLC DATE OF NAME CHANGE: 20220712 FORMER COMPANY: FORMER CONFORMED NAME: NAT Holdings, LLC DATE OF NAME CHANGE: 20220517 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MFN Partners, LP CENTRAL INDEX KEY: 0001732960 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 222 BERKELEY STREET, 13TH FLOOR CITY: BOSTON STATE: MA ZIP: 02116 BUSINESS PHONE: 617-443-2040 MAIL ADDRESS: STREET 1: 222 BERKELEY STREET, 13TH FLOOR CITY: BOSTON STATE: MA ZIP: 02116 SC 13G 1 d793474dsc13g.htm SC 13G SC 13G

CUSIP No. 74982T103

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.             )*

 

 

RXO, Inc.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

74982T103

(CUSIP Number)

December 31, 2022

Date of Event Which Requires Filing of this Statement

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 74982T103

 

  1    

  Name of Reporting Person:

 

  MFN Partners, LP

 

  I.R.S. Identification No. of above Person (entities only) (voluntary)

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC USE ONLY

 

  4  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

    5    

  SOLE VOTING POWER

 

  0

   6  

  SHARED VOTING POWER

 

  12,675,369

   7  

  SOLE DISPOSITIVE POWER

 

  0

   8  

  SHARED DISPOSITIVE POWER

 

  12,675,369

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED

 

  12,675,369

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  10.9%*

12  

  TYPE OF REPORTING PERSON

 

  PN

 

*

Based on 116,400,000 shares of Common Stock outstanding as of December 31, 2022, as reported in the Issuer’s Report on Form 8-K filed with the Securities and Exchange Commission on February 7, 2023.

 

2

CUSIP No. 74982T103

 

  1    

  Names of Reporting Person:

 

  MFN Partners GP, LLC

 

  I.R.S. Identification No. of above Person (entities only) (voluntary)

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC USE ONLY

 

  4  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

    5    

  SOLE VOTING POWER

 

  0

   6  

  SHARED VOTING POWER

 

  12,675,369

   7  

  SOLE DISPOSITIVE POWER

 

  0

   8  

  SHARED DISPOSITIVE POWER

 

  12,675,369

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED

 

  12,675,369

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  10.9%*

12  

  TYPE OF REPORTING PERSON

 

  OO

 

*

Based on 116,400,000 shares of Common Stock outstanding as of December 31, 2022, as reported in the Issuer’s Report on Form 8-K filed with the Securities and Exchange Commission on February 7, 2023.

 

3

CUSIP No. 74982T103

 

  1    

  Names of Reporting Person:

 

  MFN Partners Management, LP

 

  I.R.S. Identification No. of above Person (entities only) (voluntary)

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC USE ONLY

 

  4  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

    5    

  SOLE VOTING POWER

 

  0

   6  

  SHARED VOTING POWER

 

  12,675,369

   7  

  SOLE DISPOSITIVE POWER

 

  0

   8  

  SHARED DISPOSITIVE POWER

 

  12,675,369

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED

 

  12,675,369

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  10.9%*

12  

  TYPE OF REPORTING PERSON

 

  IA, PN

 

*

Based on 116,400,000 shares of Common Stock outstanding as of December 31, 2022, as reported in the Issuer’s Report on Form 8-K filed with the Securities and Exchange Commission on February 7, 2023.

 

4

CUSIP No. 74982T103

 

  1    

  Names of Reporting Person:

 

  MFN Partners Management, LLC

 

  I.R.S. Identification No. of above Person (entities only) (voluntary)

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC USE ONLY

 

  4  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

    5    

  SOLE VOTING POWER

 

  0

   6  

  SHARED VOTING POWER

 

  12,675,369

   7  

  SOLE DISPOSITIVE POWER

 

  0

   8  

  SHARED DISPOSITIVE POWER

 

  12,675,369

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED

 

  12,675,369

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  10.9%*

12  

  TYPE OF REPORTING PERSON

 

  OO

 

*

Based on 116,400,000 shares of Common Stock outstanding as of December 31, 2022, as reported in the Issuer’s Report on Form 8-K filed with the Securities and Exchange Commission on February 7, 2023.

 

5

CUSIP No. 74982T103

 

  1    

  Names of Reporting Person:

 

  Michael F. DeMichele

 

  I.R.S. Identification No. of above Person (entities only) (voluntary)

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC USE ONLY

 

  4  

  Citizenship or Place of Organization

 

  United States

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

    5    

  SOLE VOTING POWER

 

  0

   6  

  SHARED VOTING POWER

 

  12,675,369

   7  

  SOLE DISPOSITIVE POWER

 

  0

   8  

  SHARED DISPOSITIVE POWER

 

  12,675,369

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED

 

  12,675,369

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

  ☐  

 

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  10.9%*

12  

  TYPE OF REPORTING PERSON

 

  IN

 

*

Based on 116,400,000 shares of Common Stock outstanding as of December 31, 2022, as reported in the Issuer’s Report on Form 8-K filed with the Securities and Exchange Commission on February 7, 2023.

 

6

CUSIP No. 74982T103

 

  1    

  Names of Reporting Person:

 

  Farhad Nanji

 

  I.R.S. Identification No. of above Person (entities only) (voluntary)

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC USE ONLY

 

  4  

  Citizenship or Place of Organization

 

  Canada

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

    5    

  SOLE VOTING POWER

 

  0

   6  

  SHARED VOTING POWER

 

  12,675,369

   7  

  SOLE DISPOSITIVE POWER

 

  0

   8  

  SHARED DISPOSITIVE POWER

 

  12,675,369

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED

 

  12,675,369

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

  ☐  

 

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  10.9%*

12  

  TYPE OF REPORTING PERSON

 

  IN

 

*

Based on 116,400,000 shares of Common Stock outstanding as of December 31, 2022, as reported in the Issuer’s Report on Form 8-K filed with the Securities and Exchange Commission on February 7, 2023.

 

7

CUSIP No. 74982T103

 

SCHEDULE 13G

 

Item 1(a)

    Name of Issuer: RXO, Inc.

Item 1(b)

   

Address of Issuer’s Principal Executive Offices:

 

115 North Community House Road, Charlotte, NC 28277

Item 2(a)

   

Name of Persons Filing:

 

This Schedule 13G is being filed by and on behalf of (i) MFN Partners, LP (the “Partnership”); (ii) MFN Partners GP, LLC (“MFN GP”), as the general partner of the Partnership; (iii) MFN Partners Management, LP (“MFN Management”), as the investment adviser to the Partnership; (iv) MFN Partners Management, LLC (“MFN LLC”), as the general partner of MFN Management; (v) Michael F. DeMichele, as a managing member of MFN GP and of MFN LLC; and (vi) Farhad Nanji, as a managing member of MFN GP and of MFN LLC (each, a “Reporting Person” and collectively, the “Reporting Persons”).

Item 2(b)

   

Address of Principal Business Office, or if None, Residence:

 

c/o MFN Partners Management, LP, 222 Berkeley Street, 13th Floor, Boston, MA 02116

Item 2(c)

   

Citizenship:

 

The Partnership is a Delaware limited partnership. MFN GP is a Delaware limited liability company. MFN Management is a Delaware limited partnership. MFN LLC is a Delaware limited liability company. Michael F. DeMichele is a citizen of the United States and Farhad Nanji is citizen of Canada.

Item 2(d)

    Title of Class of Securities: Common Stock, $0.01 par value

Item 2(e)

    CUSIP Number: 74982T103

Item 3

   

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is:

 

Not Applicable.

Item 4

   

Ownership:

 

(a) through (c):

 

The information requested herein is incorporated by reference to the cover pages to this Schedule 13G.

 

The shares reported herein are directly held by the Partnership. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.

Item 5

    Ownership of Five Percent or Less of the Class: Not Applicable.

Item 6

    Ownership of More Than Five Percent on Behalf of Another Person: Not Applicable.

Item 7

    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company: Not Applicable.

Item 8

    Identification and Classification of Members of the Group: Not Applicable.

 

8

CUSIP No. 74982T103

 

Item 9

    Notice of Dissolution of Group: Not Applicable.

Item 10

    Certification: Not Applicable

 

9

CUSIP No. 74982T103

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 10, 2023

 

MFN PARTNERS, LP
By: /s/ Jonathan Reisman
Name: Jonathan Reisman
Title: Authorized Person

 

MFN PARTNERS GP, LLC
By: /s/ Jonathan Reisman
Name: Jonathan Reisman
Title: Authorized Person

 

MFN PARTNERS MANAGEMENT, LP
By: /s/ Jonathan Reisman
Name: Jonathan Reisman
Title: Authorized Person

 

MFN PARTNERS MANAGEMENT, LLC
By: /s/ Jonathan Reisman
Name: Jonathan Reisman
Title: Authorized Person

 

FARHAD NANJI
/s/ Farhad Nanji
Farhad Nanji, individually

 

MICHAEL F. DEMICHELE
/s/ Michael F. DeMichele
Michael F. DeMichele, individually

 

10

EX-99.1 2 d793474dex991.htm EX-99.1 EX-99.1

CUSIP No. 74982T103

 

EXHIBIT 1

JOINT FILING AGREEMENT

The undersigned hereby agree that the statement on Schedule 13G to which this Agreement is annexed as Exhibit 1, and any amendments thereto, is and will be filed on behalf of each of them in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

Dated: February 10, 2023

 

MFN PARTNERS, LP
By: /s/ Jonathan Reisman
Name: Jonathan Reisman
Title: Authorized Person

 

MFN PARTNERS GP, LLC

By: /s/ Jonathan Reisman

Name: Jonathan Reisman

Title: Authorized Person

 

MFN PARTNERS MANAGEMENT, LP

By: /s/ Jonathan Reisman

Name: Jonathan Reisman

Title: Authorized Person

 

MFN PARTNERS MANAGEMENT, LLC

By: /s/ Jonathan Reisman

Name: Jonathan Reisman

Title: Authorized Person

 

FARHAD NANJI

/s/ Farhad Nanji

Farhad Nanji, individually

 

MICHAEL F. DEMICHELE

/s/ Michael F. DeMichele

Michael F. DeMichele, individually

 

11