ADT, which provides monitored security services for homes and businesses, filed on Thursday with the SEC to raise $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that could raise $1.5 billion.
The Boca Raton, FL-based company was founded in 1874 and booked $4.3 billion in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol ADT. ADT filed confidentially on September 28, 2017. Morgan Stanley, Goldman Sachs, Barclays, Deutsche Bank, RBC Capital Markets, Citi, BofA Merrill Lynch and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.
