APi Group Announces Closing of Public Offering of Common Stock
September 17 2021 - 4:01PM
Business Wire
APi Group Corporation (NYSE: APG) (“APi” or the “Company”)
announced the closing of its previously-announced underwritten
public offering of 22,716,049 shares of its common stock at a
public offering price of $20.25 per share. This number includes
2,962,962 shares sold to the underwriters upon exercise in full of
their option to purchase additional shares. The offering resulted
in gross proceeds to APi of approximately $460 million, before
deducting underwriting discounts and commissions and offering
expenses payable by APi. All of the shares of common stock sold in
the offering were 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.
Citigroup and Barclays acted 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
acted as joint book-running managers for the offering and BTIG and
CJS Securities acted as co-managers 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 was 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 final prospectus supplement, dated
September 14, 2021, and the accompanying prospectus related to the
offering are available on the SEC’s website located at
http://www.sec.gov. Copies of the final 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.
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 use of
proceeds from the offering. 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 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 year 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/20210917005501/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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