ADT announced that affiliates of Apollo Global Management will sell all 102,000,366 shares they hold in a secondary public offering, with the company not issuing new shares or receiving any proceeds. Barclays and Citigroup have been appointed as book-running managers for the transaction, which may be executed through various trading methods, including NYSE listings and negotiated sales.

Concurrently, ADT plans to repurchase up to 29,142,961 of those shares under its existing $1.5 billion share repurchase plan. No underwriting fees will be paid on shares repurchased by ADT, effectively reducing dilution from the selling transaction and utilizing capacity under the current buyback authorization.

The offering enables Apollo-managed entities to exit their remaining ADT position without diluting the company’s capital, while the buyback supports demand for shares, potentially offsetting downward pressure. Investors will watch execution timing, funding sources and the net effect on outstanding shares and earnings per share.