ADT Announces Launch of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
The underwriters will have a 30-day option to purchase up to an additional 8,250,000 shares of common stock from the Selling Stockholders.
- The underwriters will have a 30-day option to purchase up to an additional 8,250,000 shares of common stock from the Selling Stockholders.
- 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 15,000,000 shares of common stock as part of the secondary public offering (the “Share Repurchase”) subject to the completion of the offering.
- The Share Repurchase is part of the Company’s existing $350 million share repurchase program.