UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant To Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 | Other Events. |
On January 30, 2023, TD SYNNEX Corporation (the “Company”) announced the closing of a secondary public offering (the “Offering”) of an aggregate of 5,175,000 shares of its common stock, par value $0.001 per share (the “Common Stock”) that were sold by certain entities managed by affiliates of Apollo Global Management, Inc. (the “Selling Stockholders”), which includes 675,000 shares sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares of Common Stock held by the Selling Stockholders.
Also pursuant to the Underwriting Agreement, the Company purchased 900,000 shares of Common Stock from the underwriters as part of the Offering at the public offering price of $97.00 per share, resulting in a purchase price of $87.3 million (the “Concurrent Share Repurchase”). The terms and conditions of the Concurrent Share Repurchase were reviewed and approved by the Audit Committee of the Company’s board of directors, comprised of independent and disinterested directors of the Company. The Concurrent Share Repurchase was made under the Company’s existing $1 billion share repurchase program, and the Company used existing cash on hand to fund the Concurrent Share Repurchase. The underwriters did not receive any underwriting discount for the shares repurchased by the Company.
All the shares in the Offering were sold by the Selling Stockholders. The Company did not receive any of the proceeds from the sale of shares by the Selling Stockholders in the Offering.
A copy of the Company’s press release announcing the closing of the Offering, including the Concurrent Share Repurchase, is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This Current Report on Form 8-K does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit No. |
Description | |
99.1 | Press Release, dated January 30, 2023. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 30, 2023 | TD SYNNEX CORPORATION | |||||
By: | /s/ David Vetter | |||||
David Vetter | ||||||
Chief Legal Officer and Corporate Secretary |
Exhibit 99.1
TD SYNNEX Announces Closing of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
FREMONT, CA and CLEARWATER, FL, January 30, 2023 TD SYNNEX Corporation (NYSE: SNX) (TD SYNNEX or the Company) today announced the closing of a secondary public offering of an aggregate of 5,175,000 shares of its common stock by certain entities managed by affiliates of Apollo Global Management, Inc. (the Selling Stockholders), which includes 675,000 shares sold pursuant to the exercise in full of the underwriters option to purchase additional shares of common stock held by the Selling Stockholders. TD SYNNEX did not receive any of the proceeds from the sale of shares by the Selling Stockholders in the offering.
In addition, the Company purchased from the underwriters 900,000 shares of common stock as part of the secondary public offering, at the public offering price of $97.00 per share, resulting in a purchase price of $87.3 million (the Concurrent Share Repurchase), under the Companys existing $1 billion share repurchase program. The Company used existing cash on hand to fund the Concurrent Share Repurchase. The underwriters did not receive any underwriting discount for the shares repurchased by the Company.
Goldman Sachs & Co. LLC, Barclays and Citigroup acted as lead book-running managers for the offering. BofA Securities, Mizuho, RBC Capital Markets, Apollo Global Securities, BNP PARIBAS, HSBC, MUFG and Wells Fargo Securities also acted as joint book-running managers with respect to the offering. Academy Securities and Siebert Williams Shank acted as co-managers for the offering.
The shares of common stock in the public offering were sold by the Selling Stockholders pursuant to a shelf registration statement (File No. 333-259270) relating to the resale of the shares which was previously filed with the Securities and Exchange Commission (the SEC) and became effective on September 2, 2021. The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. Copies of the final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and may be obtained by contacting: Goldman Sachs & Co. LLC by mail at 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, by mail at 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by email at barclaysprospectus@broadridge.com; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, by mail at 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (800) 831-9146.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About TD SYNNEX
TD SYNNEX is a leading global distributor and solutions aggregator for the IT ecosystem. Were an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEXs approximately 23,500 co-workers are dedicated to uniting compelling IT products, services and solutions from 1,500+ best-in-class technology vendors. Our edge-to-cloud portfolio is anchored in some of the highest-growth technology segments including cloud, cybersecurity, big data/analytics, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem. For more information, visit www.TDSYNNEX.com, follow us on Twitter, LinkedIn, Facebook and Instagram.
Contact:
Liz Morali
Investor Relations
510-668-8436
ir@tdsynnex.com
Bobby Eagle
Global Corporate Communications
727-538-5864
bobby.eagle@tdsynnex.com
Document and Entity Information |
Jan. 30, 2023 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | TD SYNNEX CORP |
Amendment Flag | false |
Entity Central Index Key | 0001177394 |
Document Type | 8-K |
Document Period End Date | Jan. 30, 2023 |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-31892 |
Entity Tax Identification Number | 94-2703333 |
Entity Address, Address Line One | 44201 Nobel Drive |
Entity Address, City or Town | Fremont |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 94538 |
City Area Code | (510) |
Local Phone Number | 656-3333 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common stock, par value $0.001 per share |
Trading Symbol | SNX |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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