Ingram Micro's principal stockholder sells shares at $25.90 as the company buys back 1 million

The buyback, made under an existing $175m program, leaves $27,251,500 of that program unused, and the company gets no proceeds from the sale.

Ingram Holdco, Ingram Micro's principal stockholder and an affiliate of Platinum Equity, has priced a secondary offering of 11 million shares of common stock at $25.90 each. Goldman Sachs, the underwriter, has exercised in full its option to buy another 1.65 million shares.

Ingram Micro receives no proceeds. As part of the deal it is buying 1 million shares back from the underwriter, under its existing $175m buyback program. That leaves $27,251,500 of the program available.

This is a step in Platinum Equity's exit, not a capital event for the company, and it says nothing about how the business is trading. The full exercise of the underwriter's option and the company's own purchase suggest steady demand for the stock at $25.90. But the buyback now has less left to draw on, which narrows Ingram Micro's own room to support the shares from here.

The offering is expected to settle on or about November 4.