Platinum Equity-Backed Ingram Micro's IPO Fetches $409 Million [Yahoo! Finance]
Ingram Micro Holding Corporation (INGM)
Company Research
Source: Yahoo! Finance
Ingram Micro Holding Corp. and backer Platinum Equity raised $409 million in an initial public offering priced within a marketed range. The Irvine, California-based technology company and Platinum sold 18.6 million shares on Wednesday for $22 each after offering them for $20 to $23, according to a statement. At the IPO price, the company has a market value of about $5.2 billion based on the outstanding shares listed in its filing with the US Securities and Exchange Commission. The offering is much smaller than the $1 billion Bloomberg News reported that the company had been seeking. Ingram Micro is selling 11.6 million shares in the IPO while Platinum Equity is selling 7 million, according to the statement. The company plans to use proceeds to help pay down a portion of its debt. Founded in 1979, Ingram Micro offers technology, hardware and services, and its own digital platform, Ingram Micro Xvantage, according to the filings. Platinum Equity will continue to control almost
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INGM
News
- Ingram Micro Holding Corp. (NYSE: INGM) had its price target raised by analysts at Morgan Stanley from $24.00 to $25.00. They now have an "equal weight" rating on the stock.MarketBeat
- Ingram Micro Awarded Two 2024 AWS Partner AwardsBusiness Wire
- Ingram Micro Signs New Agreement with AWS to Drive Channel Partner Services Capabilities and ScaleBusiness Wire
- Ingram Micro Takes Strategic Action to Position Company for Long-Term GrowthBusiness Wire
- Ingram Micro Holding Corp. (NYSE: INGM) was upgraded by analysts at Melius Research to a "hold" rating.MarketBeat
INGM
Sec Filings
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- 11/6/24 - Form 4
- INGM's page on the SEC website