ADT to Repurchase 29.1M Shares Under $1.5B Plan After 102M Share Sale
ADT’s selling stockholders are offering 102,000,366 shares in a secondary public sale expected to close May 5, with no proceeds to the company. Concurrently, ADT will repurchase 29,142,961 shares at the offering price under its $1.5 billion buyback plan, paying no underwriting fees for repurchased shares.
1. Secondary Offering Details
Affiliates of Apollo Global Management are selling 102,000,366 ADT shares in a secondary public offering, representing all remaining shares held by those selling stockholders. The transaction is scheduled to close on May 5 and will not generate any proceeds for ADT itself.
2. Share Repurchase Execution
ADT has agreed to repurchase 29,142,961 of the offered shares at the same price paid by underwriters, funding the buyback through its existing $1.5 billion repurchase authorization. No underwriting fees will be paid on the shares repurchased by the company.