TD SYNNEX Corporation (NYSE:SNX) (“TD SYNNEX” or the “Company”) today announced the pricing of a secondary public offering of 4,500,000 shares of its common stock at a price to the public of $97.00 per share. All of the shares in the offering are being sold by certain entities managed by affiliates of Apollo Global Management, Inc. (the “Selling Stockholders”). The offering is expected to close on or about January 30, 2023, subject to customary closing conditions. The underwriters have a 30-day option to purchase up to an additional 675,000 shares of common stock from the Selling Stockholders. TD SYNNEX will not receive any of the proceeds from the sale of shares by the Selling Stockholders in the offering.
In addition, the Company has agreed to purchase from the underwriters 900,000 shares of common stock that are the subject of the offering at the offering price (the “Concurrent Share Repurchase”) under the Company’s existing $1 billion share repurchase program. The Company plans to fund the Concurrent Share Repurchase from existing cash on hand. The underwriters will not receive any underwriting discounts for the shares being repurchased by the Company.
Goldman Sachs & Co. LLC, Barclays and Citigroup are acting as lead book-running managers for the offering. BofA Securities, Mizuho, RBC Capital Markets, Apollo Global Securities, BNP PARIBAS, HSBC, MUFG and Wells Fargo Securities are also acting as joint book-running managers with respect to the offering. Academy Securities and Siebert Williams Shank are acting as co-managers for the offering.