Ingram Micro Holding Corporation (“Ingram Micro”) announced the pricing of its initial public offering of 18,600,000 shares of its common stock at a public offering price of $22.00 per share. The offering consists of 11,600,000 shares of Common Stock offered by Ingram Micro and 7,000,000 shares of Common Stock to be sold by certain of Ingram Micro’s existing stockholders identified in the registration statement. Ingram Micro will not receive any proceeds from the sale of the shares by the selling stockholder. The shares of Ingram Micro’s Common Stock began trading yesterday on the New York Stock Exchange under the ticker symbol “INGM”, and the offering is expected to close today, subject to customary closing conditions. Ingram Micro will allegedly receive net proceeds of approximately $233.1 million after deducting underwriting discounts and commissions and estimated offering expenses and intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its term loan credit facility.
In addition, the selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 2,790,000 shares (solely to cover over-allotments, if any) of its Common Stock at the initial public offering price, less underwriting discounts and commissions. Ingram Micro will not receive any proceeds from the sale of shares by the selling stockholder if the underwriters exercise their option to purchase additional shares of Common Stock.
Morgan Stanley, Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers for the proposed offering and as representatives of the underwriters for the proposed offering. BofA Securities, Deutsche Bank Securities, Evercore ISI, Jefferies and RBC Capital Markets are acting as bookrunners for the proposed offering. BNP PARIBAS, Guggenheim Securities, Raymond James, Rothschild & Co, Stifel, William Blair, Fifth Third Securities and Loop Capital Markets are acting as co-managers for the proposed offering.
Ingram Micro have posted on LinkedIn today “We are pleased to share that Ingram Micro became a public company today on the New York Stock Exchange under the ticker symbol INGM”.
Photo Credit: NYSE
