APi Group Announces Pricing Of Offering Of About 10.57 Mln Shares At $34.25/shr

(RTTNews) - APi Group Corp. (APG) announced the upsize and pricing of the underwritten registered public offering of about 10.57 million shares of common stock of the company commenced by certain funds affiliated with Blackstone Inc. and Viking Global Investors LP at a public offering price of $34.25 per share.

The Selling Stockholders received the offered shares upon conversion of then-existing 5.5% Series B Perpetual Convertible Preferred Stock.

In connection with the offering, the Selling Stockholders granted the underwriters a 30-day option to purchase up to 1.59 million additional shares of common stock held by the Selling Stockholders.

APi said it 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. The offering is expected to close on or about March 5, 2024.