APi Group Announces Closing of Public Offering of Common Stock

NEW BRIGHTON, Minn.--(BUSINESS WIRE)--APi Group Corporation (NYSE: APG) (“APi” or the “Company”) announced the closing of its previously-announced underwritten public offering of 22,716,049 shares of its common stock at a public offering price of $20.25 per share. This number includes 2,962,962 shares sold to the underwriters upon exercise in full of their option to purchase additional shares. The offering resulted in gross proceeds to APi of approximately $460 million, before deducting underwriting discounts and commissions and offering expenses payable by APi. All of the shares of common stock sold in the offering were sold 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.

Citigroup and Barclays acted as joint book-running managers and representatives of the underwriters for the offering. J.P. Morgan, RBC Capital Markets, BofA Securities, Baird and UBS Investment Bank acted as joint book-running managers for the offering and BTIG and CJS Securities acted as co-managers for the offering.

A shelf registration statement on Form S-3 relating to the shares of common stock being sold in the offering was filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2021, and declared effective by the SEC on May 21, 2021. The offering of the shares of common stock was made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A copy of the final prospectus supplement, dated September 14, 2021, and the accompanying prospectus related to the offering are available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus related to the offering may also be obtained from Citigroup Global Markets Inc. at Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146 and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at [phone] or by email at [e-mail].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About APi:

APi is a market-leading business services provider of safety, specialty and industrial services in over 200 locations in North America and Europe. APi provides statutorily mandated and other contracted services to a strong base of long-standing customers across industries. APi has a winning leadership culture driven by entrepreneurial business leaders to deliver innovative solutions for its customers.

Forward-Looking Statements and Disclaimers

This press release contains forward-looking statements, including, but not limited to, statements regarding APi’s use of proceeds from the offering. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, market and other general economic conditions and APi’s future availability of equity or debt financing needed to fund its growing business. These forward-looking statements are made as of the date of this press release and, except as required by applicable law, APi assumes no obligation to update such forward-looking statements or to update the reasons why actual results could differ from those projected in such forward-looking statements. Investors should refer to the risk factors set forth in the Registration Statement on Form S-3 filed by APi with the SEC on May 12, 2021, as amended and/or supplemented, and periodic reports and other documents filed by APi with the SEC, including APi’s annual report on Form 10-K for the fiscal year ended December 31, 2020, and its quarterly reports on Form 10-Q for the fiscal quarters ended March 31, 2021 and June 30, 2021.