TD SYNNEX Announces Pricing of Secondary Public Offering of Common Stock and Concurrent Share Repurchase

TD SYNNEX Corporation (NYSE:SNX) has announced the pricing of a secondary public offering of 6,750,000 shares of its common stock. The shares are being sold by certain entities managed by affiliates of Apollo Global Management, Inc. and other selling stockholders. The offering is expected to close on or about October 13, 2023, subject to customary closing conditions. The underwriters will also have a 30-day option to purchase up to an additional 1,012,500 shares of common stock from the selling stockholders.

TD SYNNEX will not receive any proceeds from the sale of shares by the selling stockholders in the offering. However, the company has agreed to purchase 2,750,000 shares of common stock from the underwriters at a price per share equal to the price per share to be paid by the underwriters to the selling stockholders. This concurrent share repurchase will be funded from existing cash on hand.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint bookrunners and underwriters for the offering.

TD SYNNEX is a leading global distributor and solutions aggregator for the IT ecosystem. With over 150,000 customers in more than 100 countries, the company helps maximize the value of technology investments, demonstrate business outcomes, and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX’s approximately 23,500 co-workers are dedicated to uniting compelling IT products, services, and solutions from over 1,500 best-in-class technology vendors.

The company’s edge-to-cloud portfolio is anchored in high-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, acting as a respected corporate citizen. The company aspires to be a diverse and inclusive employer of choice for talent across the IT ecosystem.

Investors should note that this press release contains forward-looking statements, and actual results or developments may differ materially from those projected or implied. Factors that may cause such a difference include risks and uncertainties related to the completion of the public offering, market conditions, and the satisfaction of customary closing conditions. More information about the risks and uncertainties faced by TD SYNNEX can be found in the prospectus supplement related to the public offering and the company’s Securities and Exchange Commission filings.

In conclusion, TD SYNNEX’s secondary public offering of common stock reflects the company’s commitment to growth and its position as a leading player in the IT ecosystem. With a diverse and inclusive approach, TD SYNNEX continues to provide innovative solutions and drive positive impact in the industry.