TD SYNNEX Corporation (NYSE:SNX), a leading business process services company, has entered into an underwriting agreement with affiliates of Apollo Global Management, and various underwriters.

This agreement paves the way for a secondary public offering of 12,075,000 shares of TD SYNNEX's common stock, with an anticipated close date on or about April 2, 2024.

The offering includes an additional 1,575,000 shares, fulfilling the underwriters' option to purchase extra shares from the selling stockholders.

In a strategic move alongside this offering, TD SYNNEX has also executed a concurrent share repurchase, buying back 500,000 shares of its own common stock from the underwriters at $108.60 per share, totaling approximately $54.3 million.

This repurchase was conducted under the company's existing share repurchase program, utilizing available cash reserves.