Api Group Stock Slips On $400M Equity Offering - APi Group (NYSE:APG)

APi Group Corp (NYSE:APG) commenced an underwritten public offering of $400 million of shares of its common stock.
APi Group intends to use the net proceeds from the offering for general corporate purposes, including future acquisitions and other business opportunities, capital expenditures, and working capital.
APi Group plans to grant the underwriters a 30-day option to purchase additional shares.
Price Action: APG shares are trading lower by 4.20% at $21.00 during the premarket session on Monday.

To add Benzinga News as your preferred source on Google, click here.