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By The Online Investor Staff, updated Tue., Apr. 16, 6:03 AM
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Secondary Stock Offerings| This Slide: #3 of 25 |
Slide #3. TD SYNNEX Corporation — Secondary Offering
Company:
TD SYNNEX Corporation (NYSE:SNX)
Date announced:
4/4/2024
Shares Offered:
5,309,299
Date of Pricing:
4/4/2024
Price Per Share:
$118.23
Secondary Offering Details:
TD SYNNEX Corporation (NYSE:SNX) ("TD SYNNEX" or the "Company") today announced a proposed secondary public offering of 5,309,299 shares of its common stock currently held by certain entities managed by affiliates of Apollo Global Management, Inc. (the "Selling Stockholders"), which represent all the remaining shares owned by the Selling Stockholders. 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 1,750,000 shares of common stock as part of the secondary public offering (the "Concurrent Share Repurchase"). 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. The underwriters will not receive any compensation for the shares being repurchased by the Company. -updated 4/4- TD SYNNEX Corporation (NYSE:SNX) ("TD SYNNEX" or the "Company") today announced the pricing of the previously announced secondary public offering of 5,309,299 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") and represent all the remaining shares owned by the Selling Stockholders. The offering is expected to close on or about April 9, 2024, subject to customary closing conditions. 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 1,750,000 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.
TD SYNNEX is a provider of a range of distribution, systems design and integration solutions for the technology industry. Co. groups the majority of its offerings into two primary solutions portfolios, Endpoint Solutions and Advanced Solutions which are comprised of the following: its Endpoint Solutions portfolio primarily includes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software and consumer electronics; and its Advanced Solutions portfolio primarily includes data center technologies such as storage, networking, servers, advanced technology software and converged and hyper-converged infrastructure as well as other solution businesses.
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Avg. Broker Rec.
 
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Buy (3.27 out of 4) 44th percentile
(ranked lower than approx. 56% of all stocks covered)
Analysts' Target Price: SNX Stock Forecast Based on Zacks ABR data; powered by Xignite |
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