Summary by Moomoo AI
Symbotic Inc., a company listed on the Nasdaq Stock Market under the symbol SYM, has announced the successful completion of an underwritten offering of shares. The offering, which initially involved the sale of 10,000,000 shares of Class A common stock, was completed on February 26, 2024. Following this, on March 6, 2024, the underwriters, led by Goldman Sachs & Co. LLC, fully exercised their option to purchase an additional 1,500,000 shares. The closing of this exercise occurred on March 8, 2024, bringing the total net proceeds for Symbotic Inc. to approximately $256 million, after accounting for underwriting discounts, commissions, and offering expenses. This offering was conducted in accordance with a shelf registration statement filed on August 1, 2023, and subsequent prospectus materials. The legal firm Sullivan & Cromwell LLP provided an opinion on the issuance of the Class A common stock, which is included as an exhibit in the current report filed with the SEC.
