TD SYNNEX Announces Follow-on Offering Of 7.375 Mln Shares

(RTTNews) - TD SYNNEX Corporation (SNX), an IT company, on Monday announced a proposed secondary public offering of 7,375,000 shares, which are currently held by certain entities managed by affiliates of Apollo Global Management, Inc (APO).

The company is not selling any share and will not receive any proceeds from the sale by the selling stockholders.

The underwriters will have a 30-day option to purchase up to an additional 1,106,250 shares from the selling stockholders.

In addition, the company has authorized the purchase from the underwriters of 1,375,000 shares as part of the offering, provided that the total amount of shares to be repurchased does not exceed $160 million.

TD SYNNEX intends to fund the concurrent share repurchase from existing cash on hand.

Goldman Sachs & Co. LLC, BofA Securities, Inc. and RBC Capital Markets, LLC are working as joint book-runners and underwriters for the offering.