October 13, 2021
APi Group Corporation, a market-leading business services provider of safety, specialty, and industrial services, closed on September 17, 2021 its underwritten public offering of 22,716,049 shares of its common stock at a public offering price of US$20.25 per share, including 2,962,962 shares sold to the underwriters upon exercise in full of their option to purchase additional shares. The gross proceeds to APi from this offering were US$460 million before deducting underwriting discounts and commissions and offering expenses payable by APi. APi intends to use the net proceeds from the offering for general corporate purposes, which may include future acquisitions and other business opportunities, capital expenditures, and working capital.
Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partner Erika Weinberg, with New York associates Hana Nah, Victoria McGrath, and Sofia Sitterson. Advice was also provided on tax matters by New York partner Bora Bozkurt, with New York associate Lukas Kutilek; on environmental matters by Washington, D.C. partner James Barrett; on data privacy & security matters by London partner Fiona Maclean, with London associate Oscar Bjartell; on benefits & compensation matters by Chicago partner Robin Struve, with Chicago associate Laura Waller; and on pensions matters by London associate Shaun Thompson.