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FINWIRES

ADT Prices Secondary Public Offering of Common Stock, Concurrent Share Repurchase

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-- ADT (ADT) said Monday it priced a secondary public offering of 102 million common shares, sold by certain entities managed by affiliates of Apollo Global Management (APO) and representing all the remaining shares owned by the selling stockholders.

The offering is expected to close on May 5, subject to customary conditions.

ADT has also agreed to buy about 29.1 million common shares from the underwriters as part of the secondary public offering, at a price per share equal to the price per share to be paid by the underwriters to the selling stockholders, subject to the completion of the offering, according to the statement.

The share repurchase will be made under ADT's existing $1.5 billion share repurchase plan. The underwriters will not receive any underwriting fees for the shares being repurchased by ADT, the company said.

The company is not selling any shares and will not receive any proceeds from the offering.

Shares of ADT fell more than 5% in Monday trading.

Price: $7.12, Change: $-0.43, Percent Change: -5.70%

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