APi Group Announces Launch Of Secondary Public Offering Of Up To An Aggregate Of 8,130,082 Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
APi Group Corporation (NYSE:APG) announced that Blackstone Inc. and Viking Global Investors LP are offering up to 8,130,082 shares of APG common stock, received from converting Series B Preferred Shares. APi will not sell any shares nor receive proceeds from this offering. UBS Investment Bank, Citigroup, and Blackstone Securities Partners L.P. are managing the offering, with an option for underwriters to buy an additional 1,219,510 shares.
February 28, 2024 | 10:07 pm
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NEUTRAL IMPACT
APi Group Corporation is not selling shares nor receiving proceeds from the offering of up to 8,130,082 shares by Blackstone and Viking Global Investors.
Although APi Group is not directly selling shares or receiving proceeds, the market's reaction to a large offering by major investors could influence APG's stock price. However, the impact is uncertain, hence a neutral score.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Blackstone Inc., as one of the selling stockholders, is participating in the offering of APi Group's common stock.
Blackstone's role as a selling stockholder in APi Group's stock offering could draw investor attention. However, the direct impact on Blackstone's stock is less clear, leading to a neutral score.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50