Deal Details

Symbotic Completes $632.5 Million Follow-On Offering

Industrial

Symbotic follow-on offering

Summary

Symbotic Inc. (“Symbotic” or the “Company”) (NASDAQ: SYM) recently completed the pricing of an underwritten public offering of 11,500,000 shares of Symbotic’s Class A common stock, at a public offering price of $55.00 per share (the “Offering”). The Offering consisted of 6,500,000 shares of Class A common stock sold by the Company, 3,500,000 shares of Class A common sold by SoftBank Group Corp. (the “Selling Securityholder”) and 1,500,000 additional shares of Class A common stock sold by the Company pursuant to the full exercise of the underwriter’s over-allotment option. The Offering generated approximately $440.0 million in primary gross proceeds for Symbotic and $192.5 million in secondary gross proceeds to the Selling Securityholder. Symbotic intends to use the net primary proceeds for general corporate purposes.

Baird served as a co-manager on the Offering.

About

Symbotic is an automation technology leader reimagining the supply chain with its end-to-end, A.I.-powered robotic and software platform. Symbotic reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale and food & beverage companies. Applying next-generation technology, high-density storage and machine learning to solve today's complex distribution challenges, Symbotic enables companies to move goods with unmatched speed, agility, accuracy and efficiency. As the backbone of commerce, Symbotic transforms the flow of goods and the economics of the supply chain for its customers. Symbotic is headquartered in Wilmington, Massachusetts.