Symbotic Announces Pricing of Primary and Secondary Offering of Class A Common Stock
WILMINGTON, Mass., Feb. 21, 2024 (GLOBE NEWSWIRE) — Symbotic Inc. (Nasdaq: SYM), a leader in A.I.-enabled robotics technology for the supply chain, today announced the pricing of its previously announced underwritten public offering (the “Offering”) of 10,000,000 shares of its Class A common stock by the Company and certain trusts for the benefit of, and entities controlled by, Richard Cohen, the Company’s founder, chairman and chief executive officer, or members of his family (the “Selling Securityholders”). In the offering, 5,000,000 shares of Class A common stock are being sold by the Company and 5,000,000 shares of Class A common stock are being sold by the Selling Securityholders, each at a public offering price of $40.50 per share. In addition, Symbotic has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of its Class A common stock at the public offering price, less underwriting discounts and commissions.