Ingram to Register Softbank Stock

Ingram Micro Inc. in Santa Ana, the world’s largest computer distributor, filed a document Wednesday with federal regulators to register 1.5 million shares of common stock for Softbank Corp.

Softbank, one of Japan’s largest investors in Internet and computer ventures, would be able to sell the Ingram Micro shares on the open market once the Securities and Exchange Commission clears the registration statement.

The Japanese company isn’t required to sell the shares, which were acquired through a warrant on Dec. 3. The shares are worth about $18.8 million at today’s prices.

Softbank currently owns about 1.2 million Ingram shares, and if it exercised the warrant, would own 1.8% of the computer distributor, the filing said.

Ingram, which sells computers and related equipment to dealers and retailers, saw its third-quarter profit fall 71%, hurt by price cuts needed to maintain market share and by management shake-ups.

In October, Jeffrey Rodek resigned as Ingram’s president. In September, Jerre Stead said he will quit as the company’s chief executive once a replacement is found.

Ingram’s stock price fell 19 cents a share Wednesday to close at $12.50. The stock has fallen about 65% since the beginning of the year.