TD Synnex announces 7.375M share offering of common stock for holders

TD Synnex (SNX) announced a proposed secondary public offering of 7,375,000 shares of its common stock currently held by certain entities managed by affiliates of Apollo Global Management (APO). In addition, the company has authorized the purchase from the underwriters of 1,375,000 shares of common stock as part of the secondary public offering, provided that the total amount of shares to be repurchased does not exceed $160M. The Concurrent Share Repurchase is part of the company’s existing share repurchase program. The company intends to fund the Concurrent Share Repurchase from existing cash on hand. The underwriters will not receive any compensation for the shares being repurchased by the company. Goldman Sachs & Co., BofA Securities, and RBC Capital Markets are acting as joint bookrunners and underwriters for the offering.