TD Synnex announces common stock offering, concurrent share repurchase

TD Synnex announced a proposed secondary public offering of 5.31M shares of its common stock currently held by certain entities managed by affiliates of Apollo Global Management, which represent all the remaining shares owned by the selling stockholders. TD Synnex is not selling any shares of its common stock and will not receive any proceeds from the sale of the shares by the selling stockholders in the offering. In addition, the company has authorized the purchase from the underwriters of 1.75M shares of common stock as part of the secondary public offering. 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. J.P. Morgan Securities, Citigroup Global Markets, Goldman Sachs & Co., Mizuho Securities USA, and RBC Capital Markets are acting as joint bookrunners and underwriters for the offering.