APi Group Announces Launch of Public Offering of Common Stock
September 13 2021 - 7:00AM
Business Wire
APi Group Corporation (NYSE: APG) (“APi” or the “Company”)
announced today that it has commenced an underwritten public
offering of $400 million of 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 future acquisitions
and other business opportunities, capital expenditures and working
capital. 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 and Barclays are acting as joint book-running managers
and representatives of the underwriters for the offering. J.P.
Morgan, RBC Capital Markets, BofA Securities, Baird and UBS
Investment Bank are also acting as joint book-running managers for
the offering and BTIG is acting as a co-manager for the
offering.
A 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”) on May 12, 2021,
and declared effective by the SEC on May 21, 2021. 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 Global Markets Inc. at Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 or by telephone at 1-800-831-9146 and Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, by telephone at (888) 603-5847 or by email at
Barclaysprospectus@broadridge.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 market-leading business services provider of safety,
specialty and industrial services in over 200 locations in North
America and Europe. 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,
including, 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, APi’s and the underwriters' ability to satisfy the
conditions required to close the offering and APi’s future
availability of equity or debt financing needed to fund its growing
business. 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 12, 2021, 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 ended December 31, 2020, and its quarterly reports on
Form 10-Q for the fiscal quarters ended March 31, 2021 and June 30,
2021.
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version on businesswire.com: https://www.businesswire.com/news/home/20210913005399/en/
Investor Relations Inquiries: Olivia Walton Vice
President of Investor Relations Tel: +1 651-604-2773 Email:
investorrelations@apigroupinc.us
Media Contact: Liz Cohen Kekst CNC Tel: +1 212-521-4845
Email: Liz.Cohen@kekstcnc.com
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