TD SYNNEX Announces Secondary Public Offering as Affiliates of Apollo Global Management Look to Sell Stake
FREMONT, Calif.& CLEARWATER, Fla.— TD SYNNEX Corporation (NYSE: SNX) (TD SYNNEX or the Company) made a significant announcement today regarding a proposed secondary public offering of 6,750,000 shares of its common stock.These shares are currently held by certain entities managed by affiliates of Apollo Global Management, Inc.and other selling stockholders (collectively, the Selling Stockholders).It is worth noting that the underwriters will have a 30-day option to purchase up to an additional 1,012,500 shares of common stock from the Selling Stockholders.
This strategic move signifies a key shift in ownership within TD SYNNEX, as the Selling Stockholders seek to monetize their investment in the company.The decision to sell shares in a secondary public offering highlights their confidence in the market’s appetite for TD SYNNEX’s common stock, and their desire to capitalize on favorable market conditions.
TD SYNNEX is a leading provider of technology solutions, distribution, and services for a wide range of industries.The company’s innovative approach has positioned it as a frontrunner in the technology distribution space, enabling it to forge strong partnerships with various stakeholders within the industry.
The Offering will be made pursuant to an automatically effective shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission (SEC).This filing facilitates the registration of securities to be offered by TD SYNNEX.The underwriting for the Offering will be led by Credit Suisse Securities (USA) LLC, Goldman Sachs & Co.LLC, and BofA Securities, Inc.
TD SYNNEX anticipates utilizing the net proceeds from this Offering for general corporate purposes, including potential acquisitions, investments, and working capital.The Company remains committed to fostering growth, and the additional funding from this Offering will provide the necessary resources to fuel its future expansion plans.
The Insider Selling Stockholders are not affiliated with TD SYNNEX and will bear all costs associated with the sale of the common stock.TD SYNNEX will not receive any proceeds from the sale of the common stock by the Selling Stockholders.
This announcement comes at a time when market conditions are largely favorable, with investor sentiment toward technology companies remaining high.TD SYNNEX’s strong market position, coupled with its track record of successful growth, makes it an attractive proposition for investors looking to capitalize on the robust technology sector.
TD SYNNEX has enjoyed a successful partnership with Apollo Global Management, Inc.and its affiliates, which have been instrumental in driving the company’s growth and expansion.As the selling stockholders look to divest their stake, it represents an opportunity for new investors to partner with TD SYNNEX and participate in its ongoing success story.
In conclusion, TD SYNNEX’s announcement of a secondary public offering of its common stock signifies a significant milestone in the company’s journey.This development highlights the growing confidence in the evolving technology landscape and the continued interest from investors in the potential of TD SYNNEX.As the company looks to secure additional funding for its future growth initiatives, it invites new investors to partner with them on this exciting journey.
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