ADT - ADT Stock Is Tumbling After Hours: What's Happening? | Benzinga
ADT Inc (NYSE:ADT) shares are trading lower after the bell on Wednesday after the company announced a secondary public offering and share repurchase.
What Happened: Security provider ADT has commenced a proposed secondary public offering of 55 million shares of its common stock held by certain entities managed by affiliates of Apollo Global Management. The underwriters will have a 30-day option to purchase up to an additional 8.25 million shares.
ADT is not selling any shares and will not receive any proceeds from the offering. The company said it will be concurrently buying 15 million ...