TD Synnex announces offering of 9M shares of common stock for holders

TD Synnex announced a proposed secondary public offering of 9M shares of its common stock currently held by certain entities managed by affiliates of Apollo Global Management. 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 500K shares of common stock as part of the secondary public offering, provided that the total amount of shares to be repurchased does not exceed $60M. 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, Barclays Capital, BofA Securities, and Mizuho Securities are acting as joint bookrunners and underwriters for the offering.