Rollins prices secondary offering of 38.7M shares at $35; to repurchase $300M of shares concurrently

ROLLINS INC

LOR, Inc. sells 38,724,100 shares at $35.00; underwriters have 30-day option for 5,785,714 more.
Rollins will not receive any proceeds; it repurchases 8,724,100 shares (~$300M) at same price concurrently.
Selling stockholder locked up for 365 days from pricing; offering expected to close Sep 11, 2023.
Joint book-running managers: Goldman Sachs & Co. LLC and Morgan Stanley.

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