ADT shares are trading lower following the announcement of a proposed secondary public offering of 56 million shares and a concurrent 16 million share repurchase by selling shareholder Apollo Global Management.
Portfolio Pulse from Benzinga Newsdesk
ADT shares are declining due to a proposed secondary public offering of 56 million shares and a concurrent 16 million share repurchase by Apollo Global Management.
October 28, 2024 | 10:54 am
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ADT's stock is under pressure following the announcement of a secondary public offering of 56 million shares, which is likely to dilute existing shares. Additionally, Apollo Global Management plans to repurchase 16 million shares.
The announcement of a secondary public offering typically leads to a decrease in stock price due to potential dilution of shares. The repurchase of 16 million shares by Apollo Global Management may partially offset this effect, but the overall impact is negative.
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