Ingram Micro Announces Secondary Offering of 11,000,000 Shares and Buyback of 1,000,000 Shares
Key Facts
On November 2, Ingram Micro announced that Ingram Holdco, an affiliate of Platinum Equity, had launched a secondary offering of 11,000,000 common shares, allowing the majority shareholder to sell part of its stake. The company said Ingram Holdco would receive all net proceeds from the offering. Ingram Micro confirmed that it is not selling shares in the transaction and will receive no proceeds from it. At the same time, the company intends to repurchase 1,000,000 shares from the underwriter at the per-share price the underwriter pays the selling shareholder. It expects to fund the repurchase with available cash.
The offering gives the underwriter a 30-day option to purchase about 1,650,000 additional shares from the selling shareholder. Those shares remain part of Ingram Holdco’s sale under the transaction structure announced by the company. The concurrent repurchase will be made from the underwriter at the same per-share price paid to the seller. Ingram Micro intends to use available cash to fund the transaction. The deal therefore combines a partial exit by the majority shareholder with a limited company buyback, with the sale proceeds going to one party and the repurchase funded by another.
The announcement follows the company’s report of net sales of 15.2 billion dollars in the fiscal third quarter ended September 26, up 20.8% year over year. GAAP net income was 131.1 million dollars, up 31.8% from the year-earlier period. GAAP diluted earnings per share reached 0.57 dollars, compared with 0.42 dollars a year earlier. Adjusted diluted earnings per share rose to 0.91 dollars from 0.72 dollars, a gain of 26.4%. CEO Paul Bay said the company delivered “broad-based growth across all four regions and our core business lines” while continuing to expand its Xvantage platform.
Growth spanned the company’s core business lines: global Advanced Solutions sales rose 40% year over year, while cloud solutions grew 31%. Client and endpoint solutions recorded growth of 10%, and other services rose 35%. The company said growth extended across all four regions and its business lines as it continued to expand its Xvantage platform. Ingram Micro raised its full-year fiscal guidance in its October 29 earnings announcement, according to the results statement. However, the company did not link the guidance increase to the launch of the offering or cite it as a reason for the sale.
In September, the company announced an earlier secondary sale of 13.125 million shares at 27.25 dollars per share, along with a plan to repurchase 625,000 shares. After that transaction was announced, the stock fell 3.8% in after-hours trading to 27.30 dollars, according to Investing.com. In the latest EL7 data available here, Ingram Micro shares closed at 28.4 dollars on October 30. That reflects the recorded closing price before the new offering was announced on November 2 and does not include any subsequent trading following the announcement. The data provided does not support other price figures for the October 30 session.
For the coming period, Ingram Micro expects net sales of between 17.5 billion and 17.9 billion dollars and adjusted diluted earnings per share of between 1.05 and 1.15 dollars in the fiscal fourth quarter. The quarter is scheduled to end on January 2, 2027. The company also declared a quarterly cash dividend of 0.088 dollars per share, up 2.3% from the 0.086 dollars paid in the third quarter. The dividend is payable on November 23 to shareholders of record on November 9. The investor relations page lists the company’s participation in the UBS Global Technology and AI Conference on December 1, 2026.