ADT announces secondary stock offering by Apollo affiliates

ADT Inc. (NYSE: ADT) announced a proposed secondary public offering of 102,000,366 shares of common stock by entities managed by affiliates of Apollo Global Management, Inc. The shares represent all remaining holdings by the selling stockholders.

The Boca Raton-based security company will not sell any shares and will not receive proceeds from the offering. ADT plans to repurchase up to 29,142,961 shares from underwriters as part of the secondary offering, using its existing $1.5 billion share repurchase plan.

Barclays and Citigroup are serving as book-running managers for the proposed offering. The underwriters will not receive fees for shares being repurchased by ADT.

The underwriters may offer shares through various methods including transactions on the New York Stock Exchange, over-the-counter market, or through negotiated transactions at fixed or market prices.

A shelf registration statement and preliminary prospectus supplement have been filed with the Securities and Exchange Commission. The registration statement is effective.

ADT provides security, interactive, and smart home solutions to residential and small business customers in the United States.

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