Overview
- The company and SVF Sponsor III (a SoftBank affiliate) priced a total of 10,000,000 Class A shares at $55 each, with 6,500,000 sold by Symbotic and 3,500,000 by the affiliate.
- Underwriters received a 30-day option to purchase up to 1,500,000 additional shares at the public offering price.
- Symbotic plans to use net proceeds from its primary tranche for general corporate purposes, while the selling stockholder will receive its own proceeds.
- Goldman Sachs and Citigroup are lead book-running managers, with TD Securities serving as an additional book-running manager.
- Shares fell 11.84% after hours Wednesday to $64.55 and were 15.86% lower Thursday at $61.52; the offering is expected to close on December 8, subject to customary conditions.