ADT (ADT) reported on Monday that a secondary public offering of 70 million shares held by entities managed by affiliates of Apollo Global Management (APO) had been priced.

The offering is expected to be completed on Tuesday, and underwriters will have a 30-day option to purchase up to an additional 10.5 million shares from the selling shareholders, ADT said.

ADT said it is not selling any shares and will not receive any proceeds from the offering.

Additionally, ADT said it has authorized the simultaneous purchase from the underwriters of 20 million shares as part of the secondary offering at the same price per share as the underwriters will pay to the selling shareholders.

The share buyback, which is subject to completion of the offering, is part of ADT's $500 million share repurchase plan, the company said, adding that underwriters will not receive any underwriting fees for the shares being repurchased by the company.