ADT Inc - ADT STOCK NEWS

ADT has appointed Derrick Dicoi as Senior Vice President and Chief Strategy Officer, effective immediately. Dicoi, formerly with Comcast's Xfinity Home, will oversee long-term strategic planning and execution, reporting to CFO Jeff Likosar. His focus will be on enhancing competitive advantages and fostering innovation in smart home security, IoT, and artificial intelligence. Dicoi holds an MBA from Columbia Business School and has significant experience in leadership roles across various sectors.

ADT has partnered with Drew and Jonathan Scott to provide a $250,000 home renovation and smart security system to the Moffitt family from Southern California. Winners of the ADT Pass the Protection contest, the Moffitts, who have six children, including three adopted with special needs, faced significant challenges during the pandemic. The renovation will expand their home, including a therapy room, and provide an advanced ADT Command & Control security system with three years of monitoring services. ADT aims to enhance the family's well-being and security during this difficult time.

ADT Inc. (NYSE: ADT) has announced a significant investment exceeding $1 million in Percepta Labs, a Philadelphia-based AI startup. This funding aims to commercialize advanced technology designed to anonymize demographic features such as race, gender, and age in facial recognition data, enhancing ethical AI in retail environments. ADT Commercial plans to collaborate closely with Percepta to develop AI solutions aimed at improving loss prevention accuracy, potentially doubling human capabilities. The initiative reflects ADT's commitment to leading transformative change in the security industry.

ADT announced the completion of a private placement with Google, selling 54,744,525 shares of Class B common stock for $450 million. This sale represents approximately 6.6% of ADT's outstanding common stock. The proceeds will primarily be used for growth initiatives and debt reduction. The partnership with Google is expected to enhance ADT's market position in security and smart home solutions. Despite the positive outlook, potential risks remain due to uncertainties surrounding future market conditions and ADT's ability to capitalize on the investment.

ADT Inc announced a proposed secondary public offering of 43,500,000 shares at $10.00 per share, representing 5.5% of its fully diluted common stock, primarily by investment funds managed by Apollo Global Management. Following this offering, Apollo will own 80% of ADT’s common stock. The offering is set to close on Sept. 18, 2020, and underwriters have a 30-day option to purchase an additional 6,500,000 shares. ADT will not receive proceeds from this offering, which aims to enhance liquidity.

ADT has announced a secondary public offering of 43.5 million shares, representing 5.5% of its fully diluted common stock, primarily by investment funds managed by Apollo Global Management. The company will not receive any proceeds from this offering. Selling stockholders, including current and former executives, have agreed to a 120-day lock-up. Additionally, underwriters have a 30-day option to acquire up to 6.5 million shares. This move aims to enhance liquidity in ADT's common stock, while Apollo will retain 80% ownership.

ADT announced that its President and CEO, Jim DeVries, along with CFO Jeff Likosar, will present at the Citi 2020 Global Technology Virtual Conference on September 10, 2020, at 2:25 p.m. ET. Interested parties can access a live webcast and replay through ADT's investor relations website.

ADT is a leading provider of security, automation, and smart home solutions in the U.S., with over 300 locations and 9 monitoring centers. The company focuses on delivering lifestyle-driven solutions for residential and business customers.

ADT has announced the expansion of its DIY smart home security brand, Blue by ADT. This new offering allows customers to create fully customizable security solutions tailored to their individual needs. The product lineup includes a smart home hub, various cameras, sensors, and a temperature sensor. Users can select from pre-built systems or create their own, along with options for self-monitoring or professional monitoring. The launch campaign features a collaboration with Eiffel 65, promoting their song ‘Blue (Da Ba Dee)’ as the brand's anthem.

ADT Inc. (NYSE: ADT) announced the completion of a $1 billion offering of 3.375% senior secured notes due 2027. The proceeds will be used to redeem $1 billion of its 6.250% Senior Notes due 2021 and cover associated fees. The redemption of the 2021 Notes is set for September 19, 2020, with payments occurring on September 21, 2020. The offering is exempt from the registration requirements of the Securities Act, targeting qualified institutional buyers. ADT continues to enhance its position in the security and automation market through strategic financial maneuvers.