ADT (ADT) said Monday that a secondary public offering of 70 million common shares of the company held by certain entities managed by Apollo Global Management (APO) affiliates launched.
Underwriters will have a 30-day overallotment option to purchase up to 10.5 million additional shares.
As part of the offering, the company authorized the concurrent repurchase of 20 million common shares from the offering's underwriters, subject to the offering's completion.
ADT shares were down 6.1% in recent premarket activity.
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