Reported Earlier, TD SYNNEX Prices Secondary Public Offering Of 5,309,299 Common Stock And Concurrent Share Repurchase
Portfolio Pulse from Benzinga Newsdesk
TD SYNNEX announced a secondary public offering of 5,309,299 common stock and a concurrent share repurchase of 1,750,000 shares. The offering is expected to close on April 9, 2024. TD SYNNEX will not receive proceeds from the sale but will fund the repurchase from existing cash.
April 05, 2024 | 6:16 am
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POSITIVE IMPACT
TD SYNNEX's secondary public offering and concurrent share repurchase could signal confidence to investors, potentially stabilizing or boosting stock price.
Secondary offerings can dilute existing shares, potentially lowering stock price. However, the concurrent share repurchase by TD SYNNEX indicates a strong cash position and confidence in the company's value, which could counteract dilution effects and support or increase the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90