ATLANTA, Sept. 11, 2023 /PRNewswire/ -- Rollins, Inc.
(NYSE: ROL) ("Rollins" or the "Company") today announced the
closing of the previously announced secondary public offering of
44,509,814 shares of its common stock, which included
5,785,714 shares sold pursuant to the underwriters' exercise in
full of an option (the "Offering"), by LOR, Inc., one of the
Company's existing stockholders (the "Selling Stockholder"), at a
price to the public of $35.00 per share.
Rollins did not sell any shares and did not receive any proceeds
from the Offering.
In connection with the Offering, the Selling Stockholder entered
into a lock-up agreement for a period of 365 days from the pricing
date of the Offering, during which time the Selling Stockholder
will be restricted from engaging in certain transactions with
respect to its shares of the Company's common stock.
In addition, the Company completed the repurchase of 8,724,100
of the shares of common stock being offered in the Offering for
approximately $300 million at the
same per share price paid by the underwriters to the Selling
Stockholder in the Offering.
Goldman Sachs & Co. LLC and Morgan Stanley acted as joint
book-running managers for the Offering. BofA Securities acted as
passive bookrunner for the Offering. William Blair, Wells Fargo Securities, RBC
Capital Markets, Fifth Third Securities and Perella Weinberg
Partners acted as co-managers for the Offering.
J.P. Morgan acted as Capital Markets Advisor to the Company.
The Offering was made pursuant to a shelf registration statement
on Form S-3 previously filed with the Securities and Exchange
Commission ("SEC") and declared effective by the SEC on
June 22, 2023. A final prospectus
supplement relating to and describing the terms of the Offering has
been filed with the SEC and is available on the SEC's website at
www.sec.gov. Copies of the final prospectus supplement and
accompanying prospectus relating to these securities may also be
obtained by sending a request to: Goldman Sachs & Co. LLC,
Attn: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at
1-866-471-2526 or by email at prospectus-ny@ny.email.gs.com; or
Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180
Varick Street 2nd Floor, New York, New
York 10014.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor will there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Rollins, Inc.
Rollins, Inc. (ROL) is a premier global consumer and commercial
services company. Through its family of leading brands, the
Company and its franchises provide essential pest control services
and protection against termite damage, rodents, and insects to more
than 2.8 million customers in North
America, South America,
Europe, Asia, Africa,
and Australia, with more than
19,000 employees from more than 800 locations. Rollins is parent to
Orkin, HomeTeam Pest Defense, Clark Pest Control, Northwest
Exterminating, McCall Service,
Trutech, Critter Control, Western Pest Services, Waltham Services,
OPC Pest Services, The Industrial Fumigant Company, PermaTreat,
Crane Pest Control, Missquito, Fox Pest Control, Orkin Canada,
Orkin Australia, Safeguard (UK), Aardwolf Pestkare (Singapore), and more.
Contact
Investor
Relations
InvestorRelations@rollins.com
(404) 888-2000
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SOURCE ROLLINS, INC.