APi Group Announces Pricing of Public Offering of Common Stock
17 Abril 2024 - 12:05AM
Business Wire
APi Group Corporation (NYSE: APG) (“APi” or the “Company”)
announced the pricing of an underwritten public offering of
11,000,000 shares of common stock at a public offering price of
$37.50 per share. The gross proceeds to APi from the offering are
expected to be approximately $412,500,000 million before deducting
underwriting discounts and commissions and offering expenses
payable by APi. APi has granted to the underwriters a 30-day option
to purchase an additional 1,650,000 shares of its common stock. All
of the shares of common stock to be sold in the offering are to be
sold by APi. The offering is expected to close on April 19, 2024,
subject to customary closing conditions.
APi intends to use the net proceeds from the offering for
general corporate purposes, which may include capital expenditures,
working capital and acquisitions.
Citigroup, BofA Securities and UBS Investment Bank are acting as
joint lead book-running managers for the offering. Baird, Barclays,
BTIG, Jefferies, RBC Capital Markets and William Blair are also
acting as joint book-running managers for the offering and CJS
Securities is acting as co-manager for the offering.
An automatic shelf registration statement on Form S-3 relating
to the shares of common stock being sold in the offering was filed
with the Securities and Exchange Commission (the “SEC”) and deemed
immediately effective on May 4, 2023. The offering of the shares of
common stock is being made only by means of a prospectus meeting
the requirements of Section 10 of the Securities Act of 1933, as
amended. A preliminary prospectus describing the terms of the
offering has been filed with the SEC and forms a part of the
effective shelf registration statement on Form S-3. A copy of the
final prospectus, when available, related to the offering may be
obtained on the SEC’s website located at http://www.sec.gov, from
Citigroup at Citigroup, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146), from
BofA Securities. at BofA Securities, NC1-022-02-25, 201 North Tryon
Street, Charlotte, NC 28255, Attn: Prospectus Department, or by
email at dg.prospectus_requests@bofa.com and from UBS Securities
LLC at UBS Securities LLC, Attention: Prospectus Department, 1285
Avenue of the Americas, New York, NY 10019, or by email at
ol-prospectus-request@ubs.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About APi:
APi is a global, market-leading business services provider of
life safety, security and specialty services with a substantial
recurring revenue base and over 500 locations worldwide. APi
provides statutorily mandated and other contracted services to a
strong base of long-standing customers across industries. APi has a
winning leadership culture driven by entrepreneurial business
leaders to deliver innovative solutions for its customers.
Forward-Looking Statements and
Disclaimers
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact are
forward-looking statements. These statements include, but are not
limited to, statements regarding APi’s public offering of shares of
its common stock, including the anticipated use of proceeds and the
expected closing date of the offering. Actual results could differ
from those projected in any forward-looking statements due to
numerous factors. Such factors include, among others, market and
other general economic conditions and APi’s and the underwriters’
ability to satisfy the conditions required to close the offering.
These forward-looking statements are made as of the date of this
press release and, except as required by applicable law, APi
assumes no obligation to update such forward-looking statements or
to update the reasons why actual results could differ from those
projected in such forward-looking statements. Investors should
refer to the risk factors set forth in the Registration Statement
on Form S-3 filed by APi with the SEC on May 4, 2023, as amended
and/or supplemented, and periodic reports and other documents filed
by APi with the SEC, including APi’s annual report on Form 10-K for
the fiscal year ended December 31, 2023.
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version on businesswire.com: https://www.businesswire.com/news/home/20240416080225/en/
Investor Relations Inquiries: Adam Fee Vice President of
Investor Relations Tel: +1 651-240-7252 Email:
investorrelations@apigroupinc.us
APi (NYSE:APG)
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