TD Synnex Corporation
TD SYNNEX Announces Secondary Public Offering and Concurrent Share Repurchase
Summary
On March 27, 2024, TD SYNNEX Corporation and certain entities managed by affiliates of Apollo Global Management, Inc. entered into an underwriting agreement for the secondary public offering of 12,075,000 shares of the Company's common stock. The offering included an option to purchase additional shares, bringing the total to 12,075,000 shares. TD SYNNEX also repurchased 500,000 shares at $108.60 per share, totaling approximately $54.3 million, using existing cash on hand. The repurchase was part of the Company's existing share repurchase program and was approved by the Audit Committee. The offering is expected to close on or about April 2, 2024.
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About TD Synnex Corporation
TD Synnex Corporation is a global leader in business process services, specializing in the distribution of technology products and services. The company's primary function is to provide comprehensive supply chain solutions, acting as a vital conduit between technology manufacturers and end-users across various sectors, including IT, education, healthcare, and government. TD Synnex plays a critical role in ensuring the efficient movement of technology products from production to market, thereby enhancing the scalability and reach of its vendor partners. The company offers a broad array of value-added services, such as logistics, integration, and financial services, thus facilitating optimized technology solutions for its clientele. Headquartered in Florida, TD Synnex operates across multiple continents, cementing its market significance as a reliable partner in the ever-evolving tech distribution landscape. It significantly impacts the technology ecosystem by enabling and accelerating access to innovative products and solutions worldwide, thus serving as a backbone for technology deployment in diverse industries.
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