ADT stock slides on pricing secondary stock offering at $6.50 a share and share repurchase

The offering is expected to close on March 11, 2024.

The company has granted the underwriters a 30-day option to purchase up to an additional 9.75 million shares of common stock from the selling stockholders.

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

In addition, ADT has authorized underwriters to purchase 15 million shares of common stock in a secondary public offering, part of its $350 million share repurchase program, without underwriting fees. The underwriters will not receive any underwriting fees for the shares being repurchased by the company.