Is there a C# LINQ syntax for the Queryable.SelectMany() method?

Yes, you just repeat the from ... in clause:

var words = from str in text
            from word in str.Split(' ')
            select word;

You can use a Compound from Clause:

var tokens = from s in text
             from x in s.Split(' ')
             select x;

Your query would be re-written as:

var tokens = from x in text
             from z in x.Split(' ')
             select z;

Here's a good page that has a couple of side-by-side examples of Lambda and Query syntax:

Select Many Operator Part 1 - Zeeshan Hirani