TD Synnex Corporation announced a proposed secondary public offering of 4.5M shares of its common stock currently held by certain entities managed by affiliates of Apollo Global Management. In addition, the company has authorized the purchase from the underwriters of 900K shares of common stock as part of the secondary public offering, which represents 20% of the shares being offered by the selling stockholders in the secondary public offering, up to a maximum of $100M of shares. The repurchase is part of the company’s existing $1B share repurchase program. The company intends to fund the repurchase from existing cash on hand. Goldman Sachs, Barclays, and Citigroup are acting as lead book-running managers for the offering. Apollo Global Securities is also acting as joint book-running manager with respect to the offering.
Published first on TheFly
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