ADT Inc. (ADT) announced a proposed secondary public offering of 56M shares of the company’s common stock held by certain entities managed by affiliates of Apollo Global Management (APO). In addition, ADT has authorized the concurrent purchase from the underwriters of 16M 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 $350M share repurchase program. The underwriters will not receive any underwriting fees for the shares being repurchased by the company. Barclays, Citigroup and BTIG are acting as book-running managers for the proposed offering.
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