(RTTNews) - Ingram Micro Holding Corp. (INGM), a distributor of information technology products and services, on Friday priced a secondary public offering of 8.99 million shares by selling stockholder Ingram Holdco LLC, an affiliate of Platinum Equity, at $22.25 per share.
The offering is also expected to close on or about March 9.
The selling stockholder granted underwriters a 30-day option to purchase up to 1.35 million additional shares at the public offering price.
The selling stockholder will receive all net proceeds from the offering.
Ingram Micro is not selling any shares and will not receive any proceeds.
Further, the company expects to close a previously announced $75 million share repurchase from the selling stockholder on or about March 9, at the same net price paid by the underwriters.
The repurchase will be funded with cash on hand.
Ingram Micro Holding closed trading, 0.27% higher at $26.36 on the New York Stock Exchange.
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