secwatch.observer — SEC 8-K summary
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Issuer:     APi Group Corp (APG)
CIK:        0001796209
Form:       8-K
Filed at:   2022-01-03T23:59:59+00:00
Accession:  0001193125-22-000650
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.01, 2.03, 3.02, 3.03, 5.02, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

APi Group completes $3.1B acquisition of Chubb fire & security business
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- APi completed acquisition of Chubb from Carrier for $3.1B enterprise value ($2.9B cash + ~$200M assumed liabilities).
- Financed via $800M Series B perpetual convertible preferred stock (5.5%, sold to Blackstone and Viking), $1.1B term loan, and $300M 4.75% senior notes due 2029.
- David S. Blitzer appointed to board as Series B director effective upon closing of the acquisition.
- Board approved stock dividend of ~7.54M common shares to Series A preferred holder for 2021 annual dividend.
- Chubb employs ~13,000 people, serves 1.5M customer sites across 17 countries; combined workforce ~26,000.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1796209/000119312522000650/0001193125-22-000650-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1796209/000119312522000650/d251823d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-000650

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