APi Group Prices Public Offering Of 11 Mln Shares At $37.50/shr

(RTTNews) - APi Group Corp. (APG) announced the pricing of an underwritten public offering of 11 million shares of common stock at a public offering price of $37.50 per share.

The company expects gross proceeds from the offering to be about $412.50 million before deducting underwriting discounts and commissions and offering expenses.

APi has granted to the underwriters a 30-day option to purchase an additional 1.65 million shares of its common stock.

The offering is expected to close on April 19, 2024.

The company noted that it plans to use the net proceeds from the offering for general corporate purposes, which may include capital expenditures, working capital and acquisitions.