Ingram Micro principal stockholder launches 13.1M share offering

Ingram Micro Holding Corporation (NYSE: INGM) announced that Ingram Holdco, LLC, an affiliate of Platinum Equity, LLC, has launched a secondary offering of 13,125,000 shares of common stock, according to a press release from the company.

The selling stockholder has also granted the underwriter a 30-day option to purchase approximately 1,968,750 additional shares at the public offering price, less underwriting discounts and commissions.

Ingram Micro is not selling any shares in the offering and will not receive any proceeds. All net proceeds will go to the selling stockholder.

Concurrently, Ingram Micro said it intends to repurchase 625,000 shares of its common stock from the underwriter at the same price per share at which the underwriter purchases shares from the selling stockholder. The company plans to fund the repurchase with cash on hand. The repurchase is part of the company's existing share repurchase program and is expected to close at the same time as the offering, though the offering's closing is not contingent on the repurchase closing.

Goldman Sachs & Co. LLC is acting as the sole underwriter for the offering.

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