Platinum Equity, the principal shareholder of Irvine-bassed Ingram Micro, has launched a secondary offering of $330 million of common stock (NYSE: INGM).
Platinum also expects to grant the underwriters a 30-day option to purchase approximately $45 million of Common Stock at the public offering price, less underwriting discounts and commissions.
Platinum “will receive all of the net proceeds from the offering (including from the exercise of the underwriter option as described above),” Ingram said in a statement today.
Shares in Ingram Micro tumbled 7.5% in after-hours trading to $26.34 each and a market cap of $6.6 billion.
