Apollo upsizes and prices offering of mandatory convertible preferred stock

New york, aug. 08, 2023 (globe newswire) -- 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.
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