ADT Shares Slide After Apollo Prices Secondary Block at Discounted Range
ADT Inc. dropped 6.5% Monday after Apollo Global Management set the pricing for a secondary sale of 102 million ADT shares at $7.30 to $7.55 each, a range at or below ADT's prior close. Apollo is seeking up to $770 million in the transaction, which represents the remaining shares held by entities managed by Apollo affiliates and is expected to clos…