Rollins, Inc. Announces Pricing of Secondary Public Offering of Common Stock
Rollins (NYSE: ROL) priced a secondary offering of 17,391,305 shares by two existing holders at $57.50 per share, with expected closing on November 12, 2025. The underwriter has a 30‑day option to buy up to an additional 2,608,695 shares. Rollins will not sell shares and will receive no proceeds from the offering.
Subject to closing, Rollins agreed to repurchase 3,478,260 of the offered shares for approximately $200 million at the same per‑share price; the offering and repurchase are conditioned on each other. Each selling stockholder entered a 365‑day lock‑up. Morgan Stanley is sole bookrunner; the offering is made from a Form S‑3 shelf registration declared effective June 22, 2023.
Condizionata alla chiusura, Rollins ha concordato di riacquistare 3.478.260 delle azioni offerte per circa $200 milioni allo stesso prezzo per azione; l'offerta e il riacquisto sono condizionati l'uno all'altro. Ogni azionista venditore ha stipulato una lock-up di 365 giorni. Morgan Stanley è l'unico bookrunner; l'offerta è tratte da un registro Form S-3 dichiarato efficace il 22 giugno 2023.
Sujeto al cierre, Rollins acordó recomprar 3.478.260 de las acciones ofrecidas por aproximadamente $200 millones al mismo precio por acción; la oferta y la recompra están condicionadas entre sí. Cada accionista vendedor estableció un bloqueo de 365 días. Morgan Stanley es el único bookrunner; la oferta se realiza a partir de un registro de estantería Form S-3 declarado efectivo el 22 de junio de 2023.
마감 조건에 따라 롤린스는 같은 주당 가격으로 대략 $200 백만에 제공된 주식 3,478,260주를 재매입하기로 합의했으며; 공모와 재매입은 서로 의존합니다. 각 매도 주주에게는 365일 락업이 부여되었습니다. 모건 스탠리(Morgan Stanley)가 단독 북런너이며; 이 공모는 2023년 6월 22일에 발효된 Form S-3 선반 등록에서 이루어집니다.
Sous réserve de la clôture, Rollins a convenu de racheter 3 478 260 des actions offertes pour environ $200 millions au même prix par action; l'offre et le rachat sont conditionnés l'un à l'autre. Chaque actionnaire vendeur a conclu un verrouillage de 365 jours. Morgan Stanley est l'unique bookrunner; l'offre est effectuée à partir d'un enregistrement Form S-3 déclaré efficace le 22 juin 2023.
Vorbehaltlich des Abschlusses hat Rollins vereinbart, 3.478.260 der angebotenen Aktien zu circa $200 Millionen zum gleichen Preis pro Aktie zurückzukaufen; das Angebot und der Rückkauf bedingen einander. Jedes verkaufende Aktionär hat eine 365-Tage-Lock-up vereinbart. Morgan Stanley ist alleiniger Bookrunner; das Angebot erfolgt aus einer Form S-3-Registrierung, die am 22. Juni 2023 in Kraft getreten ist.
رهناً بالإغلاق، وافقت Rollins على إعادة شراء 3,478,260 من الأسهم المعروضة مقابل نحو $200 مليون بنفس سعر السهم؛ العرض والشراء المشروطين لبعضهما البعض. كل مساهم بائع دخل في إغلاق لمدة 365 يوماً. مورغان ستانلي هي المنفذ الوحيد للكتاب؛ يتم العرض من سجل Form S-3 الذي دخـل حيز التنفيذ في 22 يونيو 2023.
- Company agreed to repurchase 3,478,260 shares for approximately $200M
- Selling stockholders committed to a 365‑day lock‑up, reducing near‑term selling pressure
- Secondary offering of 17,391,305 shares increases available supply
- Company will receive no proceeds from the offering
- Offering and repurchase are mutually conditioned, creating execution risk
Insights
Secondary offering by existing holders sells 17,391,305 shares at
The transaction sizes are explicit: the Selling Stockholders will offer 17,391,305 shares at
This structure shifts cash to the Selling Stockholders while the Company uses cash for a targeted repurchase rather than underwriting proceeds; the repurchase reduces net free float sold but does not generate new capital for the business. Key items to watch near term: confirmation of closing on
The underwriter will have a 30-day option to purchase up to an additional 2,608,695 shares of common stock from the Selling Stockholders. Rollins is not selling any shares and will not receive any proceeds from the Offering.
In connection with the Offering, each of the Selling Stockholders has entered into lock-up agreements for a period of 365 days from the pricing date of the Offering, during which time the Selling Stockholders will be restricted from engaging in certain transactions with respect to their shares of the Company's common stock.
Subject to the closing of the Offering, the Company has agreed to repurchase 3,478,260 of the shares of common stock being offered in the Offering for approximately
Morgan Stanley is acting as sole bookrunner for the Offering.
The Offering is being made pursuant to a shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission ("SEC") and declared effective by the SEC on June 22, 2023. A preliminary prospectus supplement relating to and describing the terms of the Offering has been filed with the SEC and is available on the SEC's web site at www.sec.gov. Copies of the final prospectus supplement (when available) and accompanying prospectus relating to these securities may also be obtained by sending a request to: Goldman Sachs & Co. LLC, Attn: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street 2nd Floor,
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Rollins, Inc.
Rollins, Inc. (ROL) is a premier global consumer and commercial services company. Through its family of leading brands, the Company and its franchises provide essential pest control services and protection against termite damage, rodents, and insects to more than 2.8 million customers in
Caution Regarding Forward-Looking Statements
This press release as well as other written or oral statements by the Company may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current opinions, expectations, intentions, beliefs, plans, objectives, assumptions and projections about future events and financial trends affecting the operating results and financial condition of our business. Although we believe that these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Generally, statements that do not relate to historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. The words "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "should," "will," "would," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts, and assumptions, and involve a number of judgments, risks and uncertainties. Important factors could cause actual results to differ materially from those indicated or implied by forward-looking statements including, but not limited to, those set forth in the sections entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and may also be described from time to time in our future reports filed with the SEC.
Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required by law.
Contact
Investor Relations
InvestorRelations@rollins.com
(404) 888-2000
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SOURCE Rollins, Inc.
FAQ
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