APi Group Announces Launch of Public Offering of Common Stock
April 16 2024 - 4:31PM
Business Wire
APi Group Corporation (NYSE: APG) (“APi” or the “Company”)
announced today that it has commenced an underwritten public
offering of 11,000,000 shares of its common stock. In connection
with the offering, APi intends to grant the underwriters a 30-day
option to purchase additional shares of its common stock. All of
the shares of common stock to be sold in the offering are to be
sold by APi.
APi intends to use the net proceeds from the offering for
general corporate purposes, which may include capital expenditures,
working capital and acquisitions. The offering is subject to
general market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the size or
terms of the offering.
Citigroup, BofA Securities and UBS Investment Bank are acting as
joint book-running managers 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 copy of the preliminary prospectus relating to the
offering, when filed, may be obtained on the SEC’s website located
at http://www.sec.gov. When available, copies of the preliminary
prospectus supplement and the accompanying prospectus related to
the offering may also be obtained 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. The final terms of the offering will
be disclosed in a final prospectus supplement to be filed with the
SEC.
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 not
limited to, statements regarding APi’s proposed public offering of
shares of its common stock and the anticipated use of proceeds.
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/20240416917112/en/
Investor Relations Inquiries: Adam Fee Vice President of
Investor Relations Tel: +1 651-240-7252 Email:
investorrelations@apigroupinc.us
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