APi Group Corporation - APG STOCK NEWS

APi Group Corporation (NYSE: APG) announced a private offering of $300 million in 4.750% Senior Notes due 2029. The offering is set to close on October 21, 2021, and proceeds will partially fund the acquisition of Chubb Limited, expected to close by year-end 2021. Funds will be held in escrow until acquisition conditions are met, after which the Notes will be merged with a subsidiary, APi Group DE, Inc. There is no guarantee that the offering will be completed on its specified terms.

APi Group Corporation (NYSE: APG) announced its subsidiary, APi Escrow Corp., plans to offer $300 million in Senior Notes due 2029 in a private offering. The net proceeds will help finance the acquisition of Chubb Limited, expected to close around year-end 2021. If the acquisition does not close by October 27, 2022, the notes will be redeemed at a special mandatory redemption price. The offering is aimed at qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

APi Group Corporation (NYSE: APG) closed its public offering of 22,716,049 shares at $20.25 per share, raising approximately $460 million. This includes the underwriters' full exercise of their option for additional shares. APi plans to use the proceeds for general corporate purposes, such as acquisitions and capital expenditures. The offering was managed by Citigroup and Barclays, among others. The registration statement was effective as of May 21, 2021. This offering is part of APi's ongoing strategy to strengthen its market position.

APi Group Corporation (NYSE: APG) has priced an underwritten public offering of 19,753,087 shares of its common stock at $20.25 per share, generating approximately $400 million in gross proceeds. The offering includes a 30-day option for underwriters to purchase an additional 2,962,962 shares. Funds raised will support general corporate purposes, including possible acquisitions and working capital, with the transaction expected to close around September 17, 2021.

APi Group Corporation (NYSE: APG) has launched an underwritten public offering of $400 million in common stock, with a 30-day option for underwriters to purchase more shares. The proceeds will be utilized for general corporate purposes, including potential acquisitions and capital expenditures. The offering's size and completion depend on market conditions. Citigroup and Barclays are the joint book-running managers, with several other financial institutions also involved. The offering follows a previously filed shelf registration statement with the SEC.

APi Group Corporation (NYSE: APG) has announced a transition in its financial leadership, with Tom Lydon stepping down as CFO and Kevin S. Krumm joining as the new Chief Financial Officer effective September 20, 2021. Krumm, who comes from Ecolab (NYSE: ECL), is anticipated to enhance APi's finance operations and support the integration of the Chubb fire and security business. The company maintains its guidance for 2021 with projected revenues between $3.65 billion and $3.75 billion.

APi Group Corporation (NYSE: APG) reported Q2 2021 net revenues of $978 million, a 10% increase from $889 million year-over-year. Adjusted net revenues rose 15.2% to the same amount, driven by market recoveries and acquisitions. Gross margin improved to 23.7%, up 415 basis points, despite supply chain disruptions. However, net income declined to $21 million from $36 million, influenced by a $9 million debt extinguishment loss. The Company expects ongoing supply chain challenges but anticipates significant growth from the planned acquisition of Chubb, aiming for increased service-based revenue.

APi Group Corporation (NYSE: APG) will release its Q2 2021 financial results on August 11, 2021, before the market opens. A conference call is scheduled for 8:30 a.m. ET the same day, featuring CEO Russ Becker, CFO Tom Lydon, and Co-Chairs James E. Lillie and Sir Martin E. Franklin. Investors can participate by dialing 877-876-9173 or via the provided webcast link. APi is a leading provider of safety and industrial services in over 200 locations across North America and Europe, serving a strong customer base.

APi Group Corporation (NYSE: APG) announced its definitive agreement to acquire Chubb Fire & Security Business from Carrier Global Corporation (NYSE: CARR) for $3.1 billion, consisting of $2.9 billion in cash and $200 million in assumed liabilities. Chubb, based in the UK, employs around 13,000 people and serves over 1.5 million customers across 17 countries. The acquisition is projected to enhance organic growth and margin expansion, strengthening APi's position in the global life safety services market, with a significant increase in service-based revenue.