Home Security Firm ADT Files for IPO of $100 Million

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Last week home security and alarm firm ADT Inc. filed for an initial public offering of up to $100 million, reports Bloomberg. Proceeds from the IPO will be used to pay down $10.1 billion in debt and redeem preferred securities. If approved by the Securities and Exchange Commission, ADT will list its shares on the New York Stock Exchange under the ticker symbol ADT. The IPO is being led by Morgan Stanley and Goldman Sachs Group Inc.

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