ADT Announces Pricing of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
ADT Inc. (NYSE: ADT) has announced the pricing of a significant secondary public offering where Apollo Global Management affiliates (Selling Stockholders) will sell 71,000,000 shares of common stock. The underwriters have a 30-day option to purchase an additional 10,650,000 shares.
Concurrent with the offering, ADT will repurchase approximately 11 million shares directly from the underwriters at the same price, utilizing the remaining capacity of its existing $500 million share repurchase program. The offering is expected to close on July 28, 2025. ADT will not receive any proceeds from the offering as it's not selling any shares.
The offering is being managed by Barclays, Citigroup, Morgan Stanley, Goldman Sachs, and BTIG as book-running managers.
ADT Inc. (NYSE: ADT) ha annunciato il prezzo di un'importante offerta pubblica secondaria in cui le affiliate di Apollo Global Management (Azionisti Venditori) venderanno 71.000.000 di azioni ordinarie. Gli underwriter hanno un'opzione di 30 giorni per acquistare ulteriori 10.650.000 azioni.
Contestualmente all'offerta, ADT riacquister脿 direttamente dagli underwriter circa 11 milioni di azioni allo stesso prezzo, utilizzando la capacit脿 residua del suo programma di riacquisto azionario da 500 milioni di dollari esistente. L'offerta 猫 prevista in chiusura il 28 luglio 2025. ADT non ricever脿 alcun ricavo dall'offerta poich茅 non sta vendendo azioni.
L'offerta 猫 gestita da Barclays, Citigroup, Morgan Stanley, Goldman Sachs e BTIG come book-running manager.
ADT Inc. (NYSE: ADT) ha anunciado el precio de una significativa oferta p煤blica secundaria en la que las filiales de Apollo Global Management (Accionistas Vendedores) vender谩n 71,000,000 acciones ordinarias. Los suscriptores tienen una opci贸n de 30 d铆as para comprar 10,650,000 acciones adicionales.
De manera simult谩nea a la oferta, ADT recomprar谩 directamente de los suscriptores aproximadamente 11 millones de acciones al mismo precio, utilizando la capacidad restante de su programa de recompra de acciones existente de 500 millones de d贸lares. Se espera que la oferta cierre el 28 de julio de 2025. ADT no recibir谩 ingresos de la oferta ya que no est谩 vendiendo acciones.
La oferta est谩 siendo gestionada por Barclays, Citigroup, Morgan Stanley, Goldman Sachs y BTIG como administradores principales.
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ADT Inc. (NYSE : ADT) a annonc茅 le prix d'une importante offre publique secondaire dans laquelle les filiales d'Apollo Global Management (actionnaires vendeurs) vendront 71 000 000 d'actions ordinaires. Les souscripteurs disposent d'une option de 30 jours pour acheter 10 650 000 actions 蝉耻辫辫濒茅尘别苍迟补颈谤别蝉.
Parall猫lement 脿 cette offre, ADT rach猫tera directement aupr猫s des souscripteurs environ 11 millions d'actions au m锚me prix, en utilisant la capacit茅 restante de son programme de rachat d'actions existant de 500 millions de dollars. La cl么ture de l'offre est pr茅vue pour le 28 juillet 2025. ADT ne recevra aucun produit de cette offre puisqu'elle ne vend pas d'actions.
L'offre est g茅r茅e par Barclays, Citigroup, Morgan Stanley, Goldman Sachs et BTIG en tant que chefs de file.
ADT Inc. (NYSE: ADT) hat die Preisfestsetzung eines bedeutenden sekund盲ren 枚ffentlichen Angebots bekannt gegeben, bei dem Tochtergesellschaften von Apollo Global Management (Verk盲ufer) 71.000.000 Stammaktien verkaufen werden. Die Konsortialf眉hrer haben eine 30-t盲gige Option, weitere 10.650.000 Aktien zu erwerben.
Zeitgleich mit dem Angebot wird ADT etwa 11 Millionen Aktien direkt von den Underwritern zum gleichen Preis zur眉ckkaufen und dabei die verbleibende Kapazit盲t seines bestehenden Aktienr眉ckkaufprogramms 眉ber 500 Millionen US-Dollar nutzen. Der Abschluss des Angebots wird f眉r den 28. Juli 2025 erwartet. ADT erh盲lt keine Erl枚se aus dem Angebot, da keine eigenen Aktien verkauft werden.
Das Angebot wird von Barclays, Citigroup, Morgan Stanley, Goldman Sachs und BTIG als Book-Running-Manager betreut.
- Company demonstrates financial flexibility by executing share repurchase program
- Significant reduction in Apollo's ownership stake could improve stock's float and trading liquidity
- No dilution for existing shareholders as ADT is not issuing new shares
- Large secondary offering could temporarily pressure stock price due to increased supply
- Company using remaining share repurchase capacity, limiting future buyback flexibility
Insights
Apollo is selling 71M ADT shares while ADT will repurchase 11M shares, potentially affecting ownership structure and stock liquidity.
The announcement details a significant secondary offering where Apollo-managed entities are selling 71 million shares of ADT common stock, with underwriters having an option to purchase an additional 10.65 million shares. This transaction represents a substantial stake being divested by Apollo, which has been a major investor in ADT.
Simultaneously, ADT will repurchase approximately 11 million shares directly from the underwriters at the same price paid to the Selling Stockholders. This repurchase will exhaust the remaining capacity of ADT's
The dual-nature of this transaction is notable: while Apollo is reducing its position (potentially signaling a planned exit strategy), ADT is opportunistically using this offering to complete its share repurchase program. The company will not receive any proceeds from the offering since it's a secondary offering of existing shares.
For investors, this transaction may impact ADT's ownership structure, potentially increasing the public float while simultaneously reducing outstanding shares through the repurchase. The market's reaction will likely depend on how investors interpret Apollo's decision to reduce its stake balanced against ADT's willingness to repurchase shares, which typically signals management's confidence in the company's valuation.
BOCA RATON, Fla., July 24, 2025 (GLOBE NEWSWIRE) -- ADT Inc. (NYSE: ADT) (鈥淎DT鈥� or the 鈥淐ompany鈥�) today announced the pricing of the previously announced secondary public offering of 71,000,000 shares of the Company鈥檚 common stock held by certain entities managed by affiliates of Apollo Global Management, Inc. (the 鈥淪elling Stockholders鈥�). The offering is expected to close on July 28, 2025, subject to satisfaction of customary conditions. The underwriters will have a 30-day option to purchase up to an additional 10,650,000 shares of common stock from the Selling Stockholders. The Company is not selling any shares and will not receive any proceeds from the offering.
In addition, ADT has authorized the concurrent purchase from the underwriters of approximately 11 million shares of common stock 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 (the 鈥淪hare Repurchase鈥�), subject to the completion of the offering. The Share Repurchase is part of the Company鈥檚 existing
The underwriters may offer the shares of common stock, other than shares subject to the Share Repurchase, from time to time for sale in one or more transactions to purchasers, directly or through agents, or through brokers in brokerage transactions, on the New York Stock Exchange, in the聽over-the-counter聽market, through negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part.
Barclays, Citigroup, Morgan Stanley, Goldman Sachs and BTIG are acting as book-running managers for the proposed offering.
A shelf registration statement (including a prospectus) relating to these securities has been filed with the Securities and Exchange Commission (the 鈥淐ommission鈥�) and is effective. A preliminary prospectus supplement relating to the offering has also been filed with the Commission. Before investing, interested parties should read the shelf registration statement, preliminary prospectus supplement and other documents filed with the Commission for information about ADT and the offering. You may get these documents for free by visiting EDGAR on the Commission鈥檚 website at sec.gov. Alternatively, a copy may be obtained from: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at: (888) 603-5847 or by email at聽[email protected]; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146; Morgan Stanley & Co. LLC, Attn: Prospectus Department, at 180 Varick Street, 2nd Floor, New York, NY 10014; Goldman Sachs & Co. LLC, Attn: Prospectus Department, at 200 West Street, New York, New York 10282, by telephone at: 1-866-471-2526, by facsimile at 212-902-9316 or by emailing [email protected]; and BTIG, LLC, 65 East 55th Street, New York, New York, 10022, E-mail: [email protected], [email protected], Attention: ECM, General Counsel.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About ADT Inc.
ADT provides safe, smart and sustainable solutions for people, homes and small businesses. Through innovative offerings, unrivaled safety and a premium customer experience, all delivered by the largest network of smart home security professionals in the U.S., we empower people to protect and connect to what matters most.
Forward-Looking Statements
ADT has made statements in this press release that may constitute 鈥渇orward-looking statements鈥� within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. While ADT has specifically identified certain information as being forward-looking in the context of its presentation, we caution you that all statements contained in this press release that are not clearly historical in nature, including, among other things, the proposed secondary public offering of the common stock; the proposed repurchase of shares of the common stock; any stated or implied outcomes with regards to the foregoing; and other matters. Without limiting the generality of the preceding sentences, any time the Company uses the words 鈥渙ngoing,鈥� 鈥渆xpects,鈥� 鈥渋ntends,鈥� 鈥渨ill,鈥� 鈥渁nticipates,鈥� 鈥渂elieves,鈥� 鈥渃onfident,鈥� 鈥渃ontinue,鈥� 鈥減ropose,鈥� 鈥渟eeks,鈥� 鈥渃ould,鈥� 鈥渕ay,鈥� 鈥渟hould,鈥� 鈥渆stimates,鈥� 鈥渇orecasts,鈥� 鈥渕ight,鈥� 鈥済oals,鈥� 鈥渙bjectives,鈥� 鈥渢argets,鈥� 鈥減lanned,鈥� 鈥減rojects,鈥� and, in each case, their negative or other various or comparable terminology, and similar expressions, the Company intends to clearly express that the information deals with possible future events and is forward-looking in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. For ADT, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include, without limitation, risks related to and the effect of the proposed secondary public offering of the common stock; activity in repurchasing shares of ADT鈥檚 common stock; and risks that are described in the Company鈥檚 Annual Report on Form 10-K for the year ended December 31, 2024, the Company鈥檚 Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, the Company鈥檚 Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and other filings with the Commission, including the sections titled 鈥淩isk Factors鈥� and 鈥淢anagement鈥檚 Discussion and Analysis of Financial Condition and Results of Operations鈥� contained therein. Any forward-looking statement represents our estimates and assumptions only as of the date of this press release and, except as required by law, ADT undertakes no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events, or otherwise after the date of this press release.
ADT Contacts Investor Relations: [email protected]; 888-238-8525 Media Relations: [email protected]
FAQ
How many shares are being offered in ADT's secondary public offering?
When will ADT's secondary offering close?
How many shares is ADT repurchasing as part of this transaction?
Who are the selling stockholders in ADT's secondary offering?
Will ADT receive any proceeds from this secondary offering?
Who are the book-running managers for ADT's secondary offering?
