Apollo-backed ADT Sets IPO Pricing Terms

1/7/18

BOCA RATON, Fla., Jan. 05, 2018 (GLOBE NEWSWIRE) — ADT Inc., the leader in security and automation solutions for homes and businesses in North America, today announced the launch of its initial public offering of 111,111,111 shares of common stock. The initial public offering price is expected to be between $17.00 and $19.00 per share, before underwriting discounts and commissions. In addition, the Company granted to the underwriters a 30-day option to purchase up to an additional 16,666,667 shares of common stock at the initial public offering price, less underwriting discounts and commissions. ADT’s existing shareholders will not sell any shares in the offering. ADT has applied to list shares on the New York Stock Exchange (NYSE) under the symbol “ADT.”

ADT expects to receive gross proceeds of approximately $2 billion from the offering, or $2.3 billion if the underwriters exercise their over-allotment option in full. ADT intends to use the gross proceeds from the offering to partially redeem outstanding second lien notes, deposit approximately $750 million of the net proceeds from this offering into a separate account, which amount will be used to redeem ADT Inc.’s preferred securities on a date to be determined following the consummation of the initial public offering, and pay fees and expenses in connection with the offering.

Morgan Stanley, Goldman Sachs & Co. LLC, Barclays, Deutsche Bank Securities, and RBC Capital Markets are acting as joint book-running managers for the offering. Citigroup, BofA Merrill Lynch, and Credit Suisse are serving as bookrunners. Imperial Capital, Academy Securities Inc., Allen & Company LLC, Apollo Global Securities, Citizens Capital Markets, LionTree, SunTrust Robinson Humphrey and The Williams Capital Group, L.P. are acting as co-managers for the offering.

About ADT
ADT is a leading provider of security and automation solutions in the United States and Canada for homes and businesses, people on-the-go and their network. Making security more accessible than ever before, and backed by 24/7 customer support, ADT delivers same-day service and live answer within seconds in customer operations, helping customers feel more safe and empowered. ADT is headquartered in Boca Raton, Florida and employs more than 18,000 people throughout North America.

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