APG - Why APi Group Shares Are Trading Lower | Benzinga
APi Group Corp (NYSE:APG) shares are trading lower by 5% to $37.15 during Wednesday’s session after the company priced an 11 million share offering at $37.50 per share.
The gross proceeds are estimated to be around $412.5 million before deductions. APi has granted the underwriters a 30-day option to purchase an additional 1.65 million shares. The offering, expected to close on April 19, will be solely comprised of shares offered by APi.
The company plans to utilize the net proceeds for general corporate purposes, including ...