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Apollo Sells ADT Shares in $418 Million Secondary Public Offering
- Client News
- March 11, 2024
Paul, Weiss advised certain entities managed by affiliates of Apollo Global Management, Inc. as the selling stockholders in a $418 million secondary public offering of 65,000,000 shares of ADT Inc. common stock. ADT is a leading provider of smart home and small business security services.
As part of the offering, ADT repurchased 15,000,000 shares of common stock from the underwriters as part of the company’s existing share repurchase program. Morgan Stanley & Co. LLC and Barclays Capital Inc. acted as representatives of the underwriters for the offering.
The Paul, Weiss team was led by corporate partners Christodoulos Kaoutzanis and Ross Fieldston, and included partners Anastasia Peterson and Gregory Ezring, and counsel John Godfrey; and tax partner Sohail Itani.