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Update: Ingram Micro Shares Fall After Pricing Secondary Offering of Common Shares

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(Updates with the latest stock movement in the headline and the first paragraph.)

Ingram Micro (INGM) shares fell 5.4% on Wednesday, a day after the company said its stockholder Ingram Holdco priced a secondary public offering of 13.1 million common shares at $27.25 apiece.

The offering's underwriter has a 30-day overallotment option to purchase up to nearly 1.97 million additional shares.

Ingram Micro has approved a concurrent repurchase of 625,000 shares from the underwriter, it said.

The company expects the offering to settle and close by Thursday.

Ingram Holdco is an affiliate of Platinum Equity.

Price: $26.86, Change: $-1.52, Percent Change: -5.36%

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