Symbotic launches public offering of 10 million Class A shares

Symbotic Inc. (NASDAQ: SYM) announced it has commenced an underwritten public offering of 10 million shares of Class A common stock. The company will offer 6.5 million shares while SVF Sponsor III (DE) LLC, a SoftBank Group Corp. affiliate, will sell 3.5 million shares.

The offering includes a 30-day option for underwriters to purchase up to 1.5 million additional shares at the public offering price, minus underwriting discounts and commissions.

Symbotic stated it intends to use net proceeds from its portion of the offering for general corporate purposes. The selling securityholder will receive all net proceeds from its share sales.

Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. serve as lead book-running managers for the offering, with TD Securities acting as an additional book-running manager.

The shares will be issued under an effective shelf registration statement on Form S-3. The offering will be conducted through a prospectus supplement and accompanying prospectus, available from the underwriters' offices.

Symbotic operates as an automation technology company that develops robotics and software platforms for supply chain operations. The company serves retail, wholesale, and food and beverage companies with warehouse automation solutions.

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