An update from APi Group Corporation (APG) is now available.
APi Group Corporation struck a significant deal on February 28, 2024, with major investment entities involving the conversion of preferred stock into common stock and a subsequent repurchase of shares. Series B Holders converted all their preferred shares at $24.60 per share and had 32.8 million common shares issued to them. Immediately after, the company repurchased 16.26 million shares at $36.90 per share for $600 million, funded through a mix of loans and cash on hand. Additionally, a secondary public offering and a 90-day lock-up agreement were established. Concurrently, the company amended its credit agreement to facilitate a $300 million term loan to finance part of the share repurchase.
For an in-depth examination of APG stock, go to TipRanks’ Stock Analysis page.
