ADT Announces Completion of Share Offering and Repurchase

ADT Inc. (NYSE: ADT) disclosed in an 8-K filing to the Securities and Exchange Commission that on October 28, 2024, the company, alongside entities managed by affiliates of Apollo Global Management, Inc., engaged in an underwriting agreement with Barclays Capital Inc., Citigroup Global Markets Inc., and BTIG, LLC. This agreement was part of an offering where 56,000,000 shares of ADT’s common stock were available for sale by the selling stockholders, with an option for the underwriters to acquire an additional 8,400,000 shares of common stock. The transaction, including the offering and share repurchase, was concluded on October 30, 2024.

As part of the offering, ADT Inc. repurchased 16,000,000 shares of common stock from the underwriters, a move in line with the $350 million share repurchase plan announced by the company’s board of directors on January 24, 2024. Notably, no underwriting fees will be received by the underwriters for the shares repurchased by the company. All shares offered in the transaction were sold by the selling stockholders, and ADT did not receive any proceeds from these sales.

The offering was conducted under a shelf registration statement on Form S-3 (File No. 333-277698) filed with the Securities and Exchange Commission on March 6, 2024. It was also supported by a prospectus dated March 6, 2024, and a preliminary prospectus supplement filed on October 28, 2024. Detailed terms, conditions, and agreements related to the underwriting agreement, including representations, warranties, rights, and obligations, were outlined in the agreement, with the entire document incorporated by reference.

Alongside this announcement, ADT Inc. submitted the underwriting agreement dated October 28, 2024, as Exhibit 1.1 in the filing. Additionally, an Interactive Data File (embedded with the Inline XBRL document) was provided as Exhibit 104.

The filing was officially signed by Jeffrey Likosar, President, Corporate Development and Transformation, and Chief Financial Officer of ADT Inc., on October 30, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ADT’s 8K filing here.

About ADT

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.