PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Mon, October 14, 10:15 PM
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Slide #14. Apollo Global Management, Inc. — Preferred Stock Offering
Company:
Apollo Global Management, Inc. (NYSE:APO)
Date announced:
8/8/2023
Shares Offered:
25,000,000
Date of Pricing:
8/8/2023
Price Per Share:
$50.00
Preferred Stock Offering Details:
Apollo Global Management, Inc. (NYSE: APO) (the "Issuer," and together with its consolidated subsidiaries, "Apollo") today announced that it has priced an offering of $1,250.0 million (25,000,000 shares) of its 6.75% Series A Mandatory Convertible Preferred Stock, par value $0.00001 per share (the "Mandatory Convertible Preferred Stock") at a price to the public and liquidation preference of $50.00 per share. The offering was upsized from the previously announced size of $1,000.0 million (20,000,000 shares). The underwriters have a 30-day option to purchase up to an additional $187.5 million (3,750,000 shares) of Mandatory Convertible Preferred Stock solely to cover over-allotments, if any. The offering is expected to close on August 11, 2023, subject to customary closing conditions.
Apollo Global Management is an alternative investment manager. Co.'s Credit segment invests in non-control corporate and structured debt instruments including investments across the capital structure. Co.'s Private Equity segment invests in control equity and related debt instruments, convertible securities and distressed debt investments. Co.'s Real Assets segment invests in real estate equity and infrastructure equity for the acquisition and recapitalization of real estate and infrastructure assets, portfolios, platforms and operating companies; real estate and infrastructure debt; and European performing and non-performing loans, and unsecured consumer loans.
Preferreds: AAM.PRA, AAM.PRB, ATH.PRC, ATH.PRD, ATH.PRE, APO.PRA
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Avg. Broker Rec.
 
|
Buy (3.42 out of 4) 56th percentile
(ranked higher than approx. 56% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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