TD Synnex Corporation
TD SYNNEX Announces Secondary Offering and Concurrent Share Repurchase
Summary
On April 4, 2024, TD SYNNEX Corporation and certain affiliates of Apollo Global Management entered into an underwriting agreement for a secondary public offering of 5,309,299 shares of common stock. Concurrently, TD SYNNEX repurchased 1,750,000 shares at $114.20 per share, totaling approximately $199.9 million, using existing cash on hand under its existing repurchase program.
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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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