The IPO Buzz: Ingram Micro (INGM Proposed) Unveils Terms for $400 Million IPO

Ingram Micro Holding Corp. (INGM) disclosed the terms for its $400.0 million IPO – 18.6 million shares at a price range of $20.00 to $23.00 per share – early today – Tuesday, Oct. 15, 2024. If priced at the $21.50 mid-point, Ingram Micro’s IPO will raise $399.9 million. Of the 18.6 million shares in the IPO, the company is offering 11.6 million shares and the selling shareholder, Platinum Equity’s investment vehicle Imola JV Holdings, is offering 7.0 million shares. This is a New York Stock Exchange listing. Morgan Stanley, Goldman Sachs and J.P. Morgan are the lead joint book-runners. Ingram Micro’s IPO is scheduled for pricing next week – on Wednesday, Oct. 23, 2024 – to trade Thursday, Oct. 24, 2024 – on the NYSE. Capital World Investors, the cornerstone investor, has indicated an interest in buying up to $70 million – or up to 17.5 percent – of the stock in the IPO, according to the prospectus. The IPO’s proceeds will be used to repay some debt, the prospectus said. Ingram Micro, based in Irvine, California, describes itself as “a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands,” according to the prospectus. “With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve,” Ingram Micro said in the prospectus. “We deliver customized solutions to our vendor, reseller and retailer partners, enabling them to provide excellent business outcomes to the companies and consumers they serve. “Through our global reach and broad portfolio of products, professional services offerings, software, cloud and digital solutions, we remove complexity and maximize the value of the technology products our partners make, sell or use, providing the world more ways to realize the promise of technology. In the face of significant economic uncertainty and volatility in commercial markets globally, we believe that our business remains well-positioned to benefit from technology megatrends, including cloud migration, enhanced security, Internet-of-Things (“IoT”), hybrid work and 5G.” Ingram Micro is profitable: The company reported net income of $327.44 million on revenue of $47.82 billion for the last 12 months. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions or anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.