TD Synnex Corporation
TD SYNNEX Announces Pricing of Secondary Public Offering and Concurrent Share Repurchase
Summary
On April 4, 2024, TD SYNNEX Corporation announced the pricing of a secondary public offering of 5,309,299 shares of its common stock, all sold by certain entities managed by affiliates of Apollo Global Management, Inc. The company also agreed to repurchase 1,750,000 shares from the underwriters at the same price per share under its existing share repurchase program, using existing cash on hand. The offering is expected to close on or about April 9, 2024, subject to customary closing conditions.
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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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