10:10 AM EDT, 10/28/2024 (MT Newswires) -- ADT (ADT) said Monday it priced its secondary public offering of 56 million shares of its common stock held by certain entities managed by affiliates of Apollo Global Management.

The offering, which is set to close on Wednesday, provides underwriters with a 30-day option to buy an additional 8.4 million common shares.

The company said it is not selling any shares and will not receive any proceeds from the proposed offering.

ADT will concurrently repurchase 16 million common shares from the underwriters under the secondary offering, as part of its existing $350 million share repurchase program, according to the company.

Shares of ADT were down nearly 7% in recent trading.

Price: 7.36, Change: -0.52, Percent Change: -6.66