Ingram Micro Holding Corporation (INGM) today 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 “Common Stock”). 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 are expected to begin trading on the New York Stock Exchange under the ticker symbol “INGM” on October 24, 2024, and the offering is expected to close on October 25, 2024, subject to customary closing conditions. Ingram Micro will 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 (NYSE:GS). 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 (ETR:DBKGn) Securities, Evercore ISI, Jefferies and RBC (TSX:RY) 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.
A registration statement, including a prospectus, relating to the Common Stock has been filed with, and was declared effective by, the U.S. Securities and Exchange Commission on October 23, 2024. The proposed offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from: Morgan Stanley & Co (NYSE:MS). LLC, Prospectus Department, 180 Varick Street, New York, New York 10014, or email: prospectus@morganstanley.com; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282 (Tel: 866-471-2526) or by e-mail at prospectus-ny@ny.email.gs.com; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions (NYSE:BR), 1155 Long Island Avenue, Edgewood, NY 11717, or email: prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Common Stock, nor shall there be any sale of the Common Stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.