Rollins, Inc. Confirms Pricing for Secondary Public Stock Offering
Rollins, Inc. (NYSE: ROL) announced today that it has set the price for a secondary public offering of its common stock at $57.50 per share. This offering, which includes 17,391,305 shares, is being facilitated by two of its existing shareholders, LOR, Inc. and Rollins Holding Company, Inc., who are collectively referred to as the Selling Stockholders. The offering is anticipated to officially close on November 12, 2025, pending the satisfaction of customary conditions.
Interestingly, the underwriters involved in this transaction have a 30-day option to acquire up to an additional 2,608,695 shares from the Selling Stockholders. It is important to note that Rollins itself is not selling any shares through this offering and will not benefit financially from this transaction.
In relation to this offering, the Selling Stockholders have agreed to lock-up agreements that will restrict them from selling their shares for a period of 365 days from today’s pricing announcement. This prevents them from partaking in any transactions concerning their shares of Rollins' common stock during this timeframe.
Moreover, alongside this offering, Rollins has committed to repurchasing 3,478,260 shares of common stock at a total cost of approximately $200 million, at the same share price as that paid by the underwriter to the Selling Stockholders. This share repurchase is contingent upon the closure of the offering and is expected to happen simultaneously.
The process surrounding this public offering is governed by a previously filed shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (SEC) as of June 22, 2023. Interested parties can find a preliminary prospectus supplement filed with the SEC outlining the offering's terms on the SEC's website. Future requests for the final prospectus and supplementary documents can be made through Morgan Stanley and Goldman Sachs at specified addresses.
Caution is advised regarding the forward-looking statements contained in this press release. These statements, which include predictions and plans concerning future actions and business strategies, are subject to various risks and uncertainties. Rollins emphasizes that it cannot guarantee the realization of these forward-looking forecasts. As with any business venture, actual results may significantly deviate from the anticipated outcomes as outlined by these forward-looking statements.
To sum up, Rollins, Inc. is engaging in a significant public offering, with the potential for substantial market influence. Company representatives indicate that the transaction is structured strategically to benefit the shareholders while ensuring regulatory compliance and financial prudence. As the company navigates through this phase, stakeholders will be keen to watch how market responses evolve leading up to the closing date.
For additional inquiries or to request further details regarding this offering, individuals can reach out to Rollins’ Investor Relations team. They are available for assistance over the phone or through email, thereby providing a channel for clear communication during this transaction.
Overall, this offering signifies Rollins, Inc.'s ongoing commitment to enhancing its stockholder value, even as it undertakes substantial financial maneuvers in the public marketplace.
Interestingly, the underwriters involved in this transaction have a 30-day option to acquire up to an additional 2,608,695 shares from the Selling Stockholders. It is important to note that Rollins itself is not selling any shares through this offering and will not benefit financially from this transaction.
In relation to this offering, the Selling Stockholders have agreed to lock-up agreements that will restrict them from selling their shares for a period of 365 days from today’s pricing announcement. This prevents them from partaking in any transactions concerning their shares of Rollins' common stock during this timeframe.
Moreover, alongside this offering, Rollins has committed to repurchasing 3,478,260 shares of common stock at a total cost of approximately $200 million, at the same share price as that paid by the underwriter to the Selling Stockholders. This share repurchase is contingent upon the closure of the offering and is expected to happen simultaneously.
The process surrounding this public offering is governed by a previously filed shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (SEC) as of June 22, 2023. Interested parties can find a preliminary prospectus supplement filed with the SEC outlining the offering's terms on the SEC's website. Future requests for the final prospectus and supplementary documents can be made through Morgan Stanley and Goldman Sachs at specified addresses.
Caution is advised regarding the forward-looking statements contained in this press release. These statements, which include predictions and plans concerning future actions and business strategies, are subject to various risks and uncertainties. Rollins emphasizes that it cannot guarantee the realization of these forward-looking forecasts. As with any business venture, actual results may significantly deviate from the anticipated outcomes as outlined by these forward-looking statements.
To sum up, Rollins, Inc. is engaging in a significant public offering, with the potential for substantial market influence. Company representatives indicate that the transaction is structured strategically to benefit the shareholders while ensuring regulatory compliance and financial prudence. As the company navigates through this phase, stakeholders will be keen to watch how market responses evolve leading up to the closing date.
For additional inquiries or to request further details regarding this offering, individuals can reach out to Rollins’ Investor Relations team. They are available for assistance over the phone or through email, thereby providing a channel for clear communication during this transaction.
Overall, this offering signifies Rollins, Inc.'s ongoing commitment to enhancing its stockholder value, even as it undertakes substantial financial maneuvers in the public marketplace.
Topics Financial Services & Investing）
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