Yinmai stock price drops 12.8% before market open, after completing a secondary issuance

2026-03-06 16:39:03

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Investing.com – Ingram Micro Holding (NYSE:INGM) stock dropped 12.8% pre-market on Friday to $22.98, after the company completed a secondary stock offering.

The IT products, cloud solutions, and supply chain services distributor announced that its sponsor, Platinum Equity, sold approximately 9 million shares at $22.25 per share, generating a total of $200 million.

The offering price was a 15.6% discount to the previous trading day’s closing price.

Additionally, Ingram Micro will use available cash to repurchase $75 million worth of stock from Platinum.

According to the prospectus, prior to this offering, Platinum held about 211 million shares, representing approximately 90% of the company’s roughly 235 million outstanding shares, based in Irvine, California.

Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS), and J.P. Morgan (NYSE:JPM) served as joint bookrunners for the offering.

As of Thursday, Ingram Micro’s stock has risen 23.5% year-to-date, with about a 27% increase this week.

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