Symbotic announces offering of 10M shares of Class A common stock

Symbotic (SYM) announced that it has commenced an underwritten public offering of 10M shares of its Class A common stock by the company and SVF Sponsor III, an affiliate of SoftBank Group Corp. The company is offering 6.5M shares of its Class A common stock and the selling securityholder is offering 3.5M shares of Class A common stock. Symbotic currently intends to use the net proceeds from the offering for general corporate purposes. The selling securityholder will receive all the net proceeds from the sale of shares of Class A common stock sold by them in the offering. Goldman Sachs & Co. and Citigroup Global Markets are acting as lead book-running managers of the proposed offering. TD Securities is acting as an additional book-running manager of the proposed offering.