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