The offering is expected to close on or before April 2, 2024.
According to SNX, the underwriters will have a 30-day option to purchase up to an additional 1.58 million shares of common stock from the selling stockholders.
TD SYNNEX will not receive any of the proceeds from the sale of shares by the selling stockholders in the offering.
Concurrently, the company plans to purchase 500K shares of common stock from underwriters at a price equal to the price to be paid by the underwriters to the selling stockholders under its existing share repurchase program, with no compensation for the underwriters.
The company plans to fund the share repurchase from existing cash on hand.
