ADT Inc. files to sell 70M shares of common stock for holders

ADT Inc. (ADT) announced a proposed secondary public offering of 70M shares of the company’s common stock held by certain entities managed by affiliates of Apollo Global Management. The company is not selling any shares and will not receive any proceeds from the proposed offering. In addition, ADT has authorized the concurrent purchase from the underwriters of 20M shares of common stock as part of the secondary public offering subject to the completion of the offering. The Share Repurchase is part of the company’s existing $500M share repurchase program. The underwriters will not receive any underwriting fees for the shares being repurchased by the company. Barclays, Citigroup, Morgan Stanley, Goldman Sachs & Co. LLC and BTIG are acting as book-running managers for the proposed offering.