Sysco share sale said to draw massive demand from top investors

Investing.com -- Sysco Corporation completed pricing of a $1 billion share offering on Tuesday that drew demand for several times the number of shares available, Bloomberg reported, citing people familiar with the matter.

The Houston-based food distributor sold 12,345,679 shares of common stock at $81.00 per share. The top 10 investors in the offering purchased more than 50% of the shares, according to people familiar with the matter cited in the Bloomberg report.

The top 25 investors acquired approximately 80% of the shares, the people said.

The offering is scheduled to close on Sept. 16, 2026, subject to standard closing conditions. Sysco granted underwriters a 30-day option to purchase up to an additional $150 million in shares at the same price to cover overallotments.

The company stated it plans to use the net proceeds to help finance part of the payment for its pending acquisition of Jetro Restaurant Depot. The offering is not dependent on the completion of that acquisition, Sysco noted.

Goldman Sachs Group Inc., Toronto-Dominion Bank, Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. served as underwriters for the offering.

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