ADT Inc.

03/11/2024 | Press release | Distributed by Public on 03/11/2024 14:24

Material Event - Form 8-K

Item 8.01

Other Information.

On March 6, 2024, ADT Inc. (the "Company") and certain entities managed by affiliates of Apollo Global Management, Inc. (the "Selling Stockholders") entered into an underwriting agreement (the "Underwriting Agreement") with Morgan Stanley & Co. LLC and Barclays Capital Inc., as representatives of the underwriters named therein (collectively, the "Underwriters") in connection with the offer and sale by the Selling Stockholders (the "Offering") of 65,000,000 shares of the Company's common stock, par value $0.01 (the "Common Stock"), and, at the option of the Underwriters, up to an additional 9,750,000 shares of Common Stock. The Offering and the Share Repurchase (as defined below) closed on March 11, 2024.

The Company purchased 15,000,000 shares of Common Stock from the Underwriters as part of the Offering (the "Share Repurchase"). The Share Repurchase was made under the share repurchase plan announced by the Company's board of directors on January 24, 2024, pursuant to which the Company is authorized to repurchase, through January 29, 2025, up to a maximum aggregate amount of $350 million of shares of Common Stock. The Underwriters will not receive any underwriting fees for the shares repurchased by the Company.

All the shares in the Offering were sold by the Selling Stockholders. The Company did not receive any of the proceeds from the sale of shares by the Selling Stockholders in the Offering.

The Offering was made pursuant to a shelf registration statement on Form S-3(File No. 333-277698)filed with the Securities and Exchange Commission on March 6, 2024 (the "Registration Statement"), a prospectus, dated March 6, 2024 included as part of the Registration Statement and a preliminary prospectus supplement, dated March 6, 2024 and filed with the Securities and Exchange Commission on March 6, 2024. The Underwriting Agreement contains certain customary representations, warranties and agreements by the Company and the Selling Stockholders, conditions to closing, indemnification rights and obligations of the parties and termination rights. The Underwriting Agreement is attached hereto as Exhibit 1.1 and is incorporated herein by reference. The foregoing description of the terms of the Underwriting Agreement is qualified in its entirety by reference to such exhibit.