Symbotic announces offering of Class A common stock

Symbotic announced that it has commenced an underwritten public offering of its Class A common stock by the company and certain trusts for the benefit of, and entities controlled by, Richard Cohen, the company’s founder, chairman and CEO, or members of his family. The company is offering 5M shares of its Class A common stock and the selling securityholders are offering 5M shares of Class A common stock. Symbotic currently intends to use the net proceeds from the offering for general corporate purposes. The Selling Securityholders will receive all the net proceeds from the sale of shares of Class A common stock sold by them in the offering. Goldman Sachs is acting as sole book-running manager of the offering.