APi Group Announces Launch of Secondary Public Offering of Common Stock
February 28 2024 - 4:22PM
Business Wire
APi Group Corporation (NYSE: APG) (“APi” or the “Company”)
announced today that certain funds affiliated with Blackstone Inc.
(the “Blackstone Selling Stockholders”) and Viking Global Investors
LP (the “Viking Selling Stockholders”), collectively, the “Selling
Stockholders”, have commenced an underwritten registered public
offering of up to an aggregate of 8,130,082 shares of common stock
of the Company that the Selling Stockholders received upon
conversion of existing 5.5% Series B Perpetual Convertible
Preferred Stock (the “Series B Preferred Shares”). In connection
with the offering, the Selling Stockholders intend to grant the
underwriters a 30-day option to purchase up to 1,219,510 additional
shares of common stock held by the Selling Stockholders. APi is not
selling any shares of common stock and will not receive any
proceeds from the sale of the shares of common stock in the
offering.
UBS Investment Bank and Citigroup are acting as joint
bookrunning managers for the offering and Blackstone Securities
Partners L.P. is acting as co-manager.
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 January 3,
2022, and declared effective by the SEC on January 7, 2022. 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 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 and from
Citigroup at Citigroup, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717 (tel: 800-831-9146). 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,
including, but not limited to, statements regarding the Selling
Stockholders’ proposed public secondary offering of shares of the
Company’s common stock. 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 the Selling Stockholders’ 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 January 7, 2022,
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, 2023.
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version on businesswire.com: https://www.businesswire.com/news/home/20240228311682/en/
Investor Relations Inquiries: Adam Fee Vice President of
Investor Relations Tel: +1 651-240-7252 Email:
investorrelations@apigroupinc.us
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