Home security provider ADT Inc. announced the launch of its initial public offering of 111,111,111 shares of common stock. The initial public offering price is expected to be between $17.00 and $19.00 per share. In addition, the company granted to the underwriters a 30-day option to purchase up to an additional 16,666,667 shares of common stock at the initial public offering price. ADT's existing shareholders will not sell any shares in the offering. ADT has applied to list shares on the New York Stock Exchange under the symbol "ADT." Morgan Stanley, Goldman Sachs, Barclays, Deutsche Bank and RBC Capital Markets are acting as joint book-running managers for the offering. Citigroup, BofA Merrill Lynch, and Credit Suisse are serving as bookrunners. Imperial Capital, Academy Securities, Allen & Company, Apollo Global Securities, Citizens Capital Markets, LionTree, SunTrust Robinson Humphrey and The Williams Capital Group are acting as co-managers for the offering.
Royal Caribbean (RCL) announced that Laura Miller has been named senior VP and CHRO. Miller joins Royal Caribbean with more than 25 years of experience implementing human resources strategies for leading companies. Miller will report directly to Richard Fain, chairman and CEO of Royal Caribbean. Miller most recently served as SVP and CHRO for ADT Corp. (ADT), where she was responsible for leading all human resource functions for the $3.6B company with approximately 17,000 employees in over 200 locations.
Samsung (SSNLF) and ADT (ADT) announce a new professionally monitored, self-installed life safety solution powered by the SmartThings platform. With the intelligence and connectivity of Samsung and the unmatched professional monitoring of ADT, the Samsung SmartThings ADT home security system is the safest, easiest, and most flexible DIY security and smart home solution available for families today. Consisting of a Home Security Starter Kit and Home Safety Expansion Pack, the new solution from Samsung and ADT gives consumers the ability to create a safe and secure home and grow their connected home ecosystem as their needs evolve - all backed by ADT professional monitoring with no long-term contract. The product is available for pre-order starting today on BestBuy.com and Samsung.com. On October 29, the product will be available in Best Buy stores and online. The ADT Home Security Starter Kit starts at $549.99 and ADT Home Safety Expansion Pack starts at $199.99. Monthly monitoring is available starting at $14.99 for life safety and $24.99 for security services.
Office Depot (ODP) announced that Jerri DeVard has joined the organization as EVP and Chief Marketing Officer. She will report directly to Office Depot's CEO Gerry Smith. DeVard will lead the strategy for furthering Office Depot's brand positioning and oversee the integration of all marketing and communications initiatives. She will be responsible for driving the growth and implementation of strategic marketing activities that build brand equity and increase market share. Previously, DeVard was the senior vice president and chief marketing officer for The ADT Corporation (ADT).