TD SYNNEX Announces Pricing of Upsized Secondary Public Offering of Common Stock and Concurrent Share Repurchase
27 Marzo 2024 - 8:35PM
Business Wire
TD SYNNEX Corporation (NYSE: SNX) (“TD SYNNEX” or the “Company”)
today announced the pricing and upsize of the previously announced
secondary public offering of 10,500,000 shares of its common stock.
All of the shares in the offering are being sold by certain
entities managed by affiliates of Apollo Global Management, Inc.
(the “Selling Stockholders”). The offering is expected to close on
or about April 2, 2024, subject to customary closing conditions.
The underwriters will have a 30-day option to purchase up to an
additional 1,575,000 shares of common stock from the Selling
Stockholders. TD SYNNEX will not receive any of the proceeds from
the sale of shares by the Selling Stockholders in the offering.
In addition, the Company has agreed to purchase from the
underwriters 500,000 shares of common stock that are the subject of
the offering at a price per share equal to the price per share to
be paid by the underwriters to the Selling Stockholders (the
“Concurrent Share Repurchase”) under the Company’s existing share
repurchase program. The Company plans to fund the Concurrent Share
Repurchase from existing cash on hand. The underwriters will not
receive any compensation for the shares being repurchased by the
Company.
J.P. Morgan Securities LLC, Barclays Capital Inc., BofA
Securities, Inc., and Mizuho Securities USA LLC are acting as joint
bookrunners and underwriters for the offering.
Shelf registration statements (File No. 333-259270 and File No.
333-274915) relating to the resale of the shares were previously
filed with the Securities and Exchange Commission (the “SEC”) and
became effective on September 2, 2021 and October 10, 2023,
respectively. A preliminary prospectus supplement relating to and
describing the terms of the offering was filed with the SEC on
March 27, 2024. The final prospectus supplement relating to the
offering will be filed with the SEC and will be available on the
SEC’s website at www.sec.gov. A copy of the preliminary prospectus
supplement, the accompanying prospectus and the final prospectus
supplement (when available) relating to the offering may be
obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717, telephone: 1-866-803-9204, or by emailing at
prospectus-eq_fi@jpmchase.com; Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 (or by email at barclaysprospectus@broadridge.com or
telephone at 1-888-603-5847); BofA Securities, Inc., NC1-022-02-25
201, North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus
Department Email: dg.prospectus_requests@bofa.com, 1-800-294-1322;
or Mizuho Securities USA LLC, Attention: Equity Capital Markets,
1271 Avenue of Americas, New York, NY, 10020, by phone at (212)
205-7600, or by email at US-ECM@mizuhogroup.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About TD SYNNEX
TD SYNNEX is a leading global distributor and solutions
aggregator for the IT ecosystem. We’re an innovative partner
helping more than 150,000 customers in 100+ countries to maximize
the value of technology investments, demonstrate business outcomes
and unlock growth opportunities. Headquartered in Clearwater,
Florida, and Fremont, California, TD SYNNEX’s approximately 23,000
co-workers are dedicated to uniting compelling IT products,
services and solutions from 2,500+ best-in-class technology
vendors. Our edge-to-cloud portfolio is anchored in some of the
highest-growth technology segments including cloud, cybersecurity,
big data/analytics, AI, IoT, mobility and everything as a service.
TD SYNNEX is committed to serving customers and communities, and we
believe we can have a positive impact on our people and our planet,
intentionally acting as a respected corporate citizen. We aspire to
be a diverse and inclusive employer of choice for talent across the
IT ecosystem.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may be identified by use of terms such as
“propose,” “will,” “expect,” “shall,” and similar terms or the
negative of such terms, and include, without limitation, statements
regarding the expected completion, terms, size, and timing of the
offering, and with respect to granting the underwriters a 30-day
option to purchase additional shares. Actual results or
developments may differ materially from those projected or implied
in these forward-looking statements. Factors that may cause such a
difference include risks and uncertainties related to completion of
the public offering on the anticipated terms or at all, market
conditions and the satisfaction of customary closing conditions
related to the public offering. More information about the risks
and uncertainties faced by TD SYNNEX is contained in the section
captioned “Risk Factors” in the prospectus supplement related to
the public offering and from time to time in the Company’s
Securities and Exchange Commission filings, including its Annual
Report on Form 10-K for the fiscal year ended November 30, 2023, as
well as subsequent SEC filings. The forward-looking statements
contained in this release are as of the date of this release, and,
except as required by law, TD SYNNEX does not undertake any
obligation to update any such statements, whether as a result of
new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240327067340/en/
Liz Morali Investor Relations 510-668-8436 ir@tdsynnex.com
Bobby Eagle Global Corporate Communications 727-538-5864
bobby.eagle@tdsynnex.com
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