TD SYNNEX Announces Launch Of 5,309,299 Share Secondary Public Offering Of Common Stock By Apollo Affiliates And Concurrent Repurchase Of 1.75M Shares
Portfolio Pulse from Benzinga Newsdesk
TD SYNNEX announced a secondary public offering of 5,309,299 shares by Apollo affiliates, alongside a concurrent repurchase of 1.75 million shares. This move could impact the company's stock liquidity and potentially its price in the short term.
April 04, 2024 | 8:14 pm
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TD SYNNEX's secondary offering and share repurchase could affect stock liquidity and price. The offering increases supply, while the repurchase reduces it, creating potential short-term volatility.
The secondary offering by Apollo affiliates introduces additional shares to the market, increasing supply. Concurrently, TD SYNNEX's repurchase of 1.75 million shares will reduce supply. These opposing actions create uncertainty around the short-term impact on the stock's liquidity and price, potentially leading to volatility.
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