BUZZ-ADT slides after Apollo's stake sale priced

Updates with pricing information

Shares of home security firm ADT Inc ADT.N down 5.9% at $7.71 early Mon after secondary offering priced

Boca Raton, Florida-based firm announces 70 mln shares offloaded by entities managed by Apollo Global Management APO.N affiliates

Offering priced at $7.70, according tothefly.com, a 6% discount to stock's close on Fri

Also, ADT to concurrently purchase 20 mln of the offering's shares from the underwriters as part of its existing repurchase program

Transactions reduce private equity giant Apollo's stake from ~43.7% to 36.1%, or ~289.2 mln shares

With ~876.5 mln total shares outstanding, ADT has current market cap of ~$6.8 bln

Barclays, Citigroup, Morgan Stanley, Goldman Sachs and BTIG are bookrunners for offering

On Thurs, ADT shares hit 2-yr high after co posted Q4 beat, citing records for recurring monthly rev and customer retention, and unveiled $500 mln stock buyback

With move on the session, stock up ~11% YTD

ADT went public in 2018 IPO priced at $14, after Apollo bought the co in 2016 for ~$7 bln