ADT is planning a $1.6 billion IPO: Here are 5 things you need to know

ADT Inc.’s shares got off to a shaky start Friday, after an initial public offering that gives investors the opportunity to buy shares in a company familiar to many Americans, thanks to the common sight of its blue octagonal logo on residential burglar alarms across the nation.

Boca Raton, Fla.–based ADT priced its IPO at $14 late Thursday, well below its targeted range of $17 to $19, to raise about $1.6 billion. Shares started trading on the New York Stock Exchange under the ticker symbol “ADT”, and promptly fell 10.5%.

Morgan Stanley, Goldman Sachs, Barclays, Deutsche Bank, RBC, Citigroup, Bank of America Merrill Lynch and Credit Suisse were joint bookrunning managers on the deal, with eight other firms acting as co-managers.

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