Ingram Micro shares slipped 8.2% in after-hours trading Tuesday after its principal stockholder priced a secondary offering of 13.125 million shares at $27.25 per share. The shares are being sold by Ingram Holdco, an affiliate of Platinum Equity, and Ingram Micro will not receive any proceeds from the offering. Underwriters have a 30-day option to purchase up to an additional 1.969 million shares at the offering price, less discounts. Separately, the company authorized a concurrent repurchase of 625,000 shares from the underwriter at the same price, totaling about $17.0 million, to be funded with cash on hand. The offering is expected to close on or about September 10.
Ingram Micro Holding CorporationSecondary offering priced at $27.25, diluting existing shareholders and causing an 8.2% drop.
