Rollins announces $1.35B common stock offering for holders

Rollins announced the commencement of a proposed secondary public offering of $1.35B of shares of its common stock by LOR, Inc., one of the company’s existing stockholders. Rollins is not selling any shares and will not receive any proceeds from the offering. In addition, subject to the closing of the offering, the company intends to repurchase approximately $300M of the shares of common stock being offered in the offering at the same per share price to be paid by the underwriters to the selling stockholder in the offering. The completion of the share repurchase is conditioned on, and is expected to close concurrently with, the closing of the offering. The closing of the offering is also conditioned on the completion of the share repurchase. Goldman Sachs & Co. and Morgan Stanley are acting as joint book-running managers for the offering.