** Shares of home security firm ADT Inc ADT.N down 5.7% premarket to $7.72 after secondary offering launched
** Boca Raton, Florida-based firm says entities managed by Apollo Global Management APO.N to offload 70 mln shares
** Also, ADT to concurrently purchase 20 mln of the offering's shares from the underwriters as part of its existing repurchase program
** Transactions would take private equity giant Apollo's stake from ~43.7% to 36.1%, or ~289.2 mln shares
** With ~876.5 mln total shares outstanding, ADT has ~$7.2 bln market cap
** Barclays, Citigroup, Morgan Stanley, Goldman Sachs and BTIG are bookrunners for offering
** On Thurs, ADT shares hit 2-yr high after co posted Q4 beat, citing records for recurring monthly rev and customer retention, and unveiled $500 mln stock buyback
** Through Fri close, shares up 18.5% YTD
** ADT went public in 2018 IPO priced at $14, after Apollo bought the co in 2016 for ~$7 bln
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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