ADT (ADT) expects to raise $2 billion in an initial public offering (IPO) on Friday, January 19th, IPO Scoop reports. The company plans to issue 111,100,000 shares at $17.00-$19.00 per share.
In the last 12 months, ADT generated $4.3 billion in revenue and had a net loss of $380.5 million. ADT has a market-cap of $13.6 billion.
Morgan Stanley, Goldman Sachs, Barclays, Deutsche Bank Securities, RBC Capital Markets, Citigroup, BofA Merrill Lynch and Credit Suisse served as the underwriters for the IPO and Imperial Capital, Academy Securities, Allen & Company, Apollo Global Securities, Citizens Capital Markets, LionTree, SunTrust Robinson Humphrey and The Williams Capital Group were co-managers.
ADT provided the following description of their company for its IPO: “We are the leading provider of monitored security, interactive home and business automation and related monitoring services in the United States and Canada. Our mission is to help our customers protect and connect to what matters most—their families, homes, and businesses. The ADT brand is synonymous with security and, as the most recognized and trusted brand in the industry, is a key driver of our success. A 2017 survey found that the ADT brand had approximately 95% brand awareness, and nearly half of ADT customers surveyed did not consider any other security alarm provider during their purchase process. We estimate that we are approximately five times larger than the next largest residential competitor, with an approximate 30% market share of the residential monitored security industry in the United States and Canada. “.
ADT was founded in 2015 and has 18000 employees. The company is located at 1501 Yamato Road, Boca Raton, FL 33431, US and can be reached via phone at (561) 988-3600.
Receive News & Ratings for ADT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADT and related companies with MarketBeat.com's FREE daily email newsletter.