The completion, made on 2nd October, earlier this week, resulted in net proceeds of approximately $1.5 billion, which significantly reduced the company’s net debt and leverage upon closing.

According to the company all net proceeds will be used for debt redemptions and repayments, expected to occur during the current quarter.

As previously announced, the commercial business unit will be reported as discontinued operations beginning in the third quarter of 2023 for current and historical periods. ADT will provide further information as part of its upcoming third quarter 2023 earnings conference call.