Sysco Prices $996M Common Stock Offering at $81 Per Share
SYY sits 20% above its 52-week low of $68.19.
Summary
Sysco priced a public offering of 12.3 million common shares at $81 per share, raising approximately $996 million before underwriting discounts. The underwriters have a 30-day option to purchase up to an additional $150 million of shares. The offering is part of the financing for the $29.1 billion Jetro acquisition, following the preliminary prospectus supplement filed on September 14. The pricing is at a slight discount to the last close of $81.53, indicating modest dilution for existing shareholders. The offering is expected to close on Wednesday, and the net proceeds will help fund the Jetro deal, which is expected to close in the first half of fiscal 2027.
At the time of this announcement, SYY was trading at $81.53 on NYSE in the Trade & Services sector, with a market capitalization of approximately $40B. The 52-week trading range was $68.19 to $91.85. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.