05:21 PM EST, 03/06/2024 (MT Newswires) -- ADT (ADT) said late Wednesday that entities managed by affiliates of Apollo Global Management are offering 55 million shares, with Morgan Stanley, Barclays, Apollo Global Securities and RBC Capital Markets acting as book-running managers.

The underwriters will have a 30-day option to buy up to an additional 8.25 million shares, the company said.

ADT said it has authorized the repurchase of 15 million shares from the underwriters as part of its existing $350 million share buyback program.

The stock was down about 10% in extended trading.

Price: 6.71, Change: -0.76, Percent Change: -10.17