TD Synnex announces offering of 6.75M shares of common stock for holders

TD Synnex Corporation announced a proposed secondary public offering of 6.75M shares of its common stock currently held by certain entities managed by affiliates of Apollo Global Management and other 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 2.75M shares of common stock as part of the secondary public offering, provided that the total amount of shares to be repurchased does not exceed $280M. The repurchase is part of the company’s existing share repurchase program. The company intends to fund the repurchase from existing cash on hand. Goldman Sachs & Co and J.P. Morgan Securities are acting as joint bookrunners and underwriters for the offering.