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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.
Posted In: APG
