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Apollo Global Management, Inc. (NYSE:APO), a prominent player in the financial services industry with a market capitalization of $77.93 billion, filed a prospectus supplement with the Securities and Exchange Commission on Tuesday to register the resale of up to 370,639 shares of its common stock. According to InvestingPro analysis, the company maintains strong financial health with robust liquidity metrics. The shares are being offered by certain selling stockholders who received them under a purchase agreement dated Monday among Apollo, Bridge Debt Management Company LLC, Bridge Debt Strategies Employee PI Holdco LLC, and James Chung as the sellers’ representative.
According to the SEC filing, the prospectus supplement was filed under Apollo’s existing shelf registration statement on Form S-3. The company stated that the filing of the current report on Form 8-K is solely to include the legal opinion and consent of Paul, Weiss, Rifkind, Wharton & Garrison LLP regarding the validity of the shares, which are attached as exhibits.
Apollo’s common stock is listed on the New York Stock Exchange under the symbol APO. The company also lists its 6.75% Series A Mandatory Convertible Preferred Stock (APO PR A) and 7.625% Fixed-Rate Resettable Junior Subordinated Notes due 2053 (APOS) on the same exchange.
The information in this article is based on a press release statement from Apollo Global Management’s SEC filing.
In other recent news, Apollo Global Management is in early-stage discussions with Coca-Cola about potentially acquiring the coffee chain Costa, as reported by Sky News. The talks are preliminary, and indicative bids are not expected for several weeks. In another development, Athene Holding, a company associated with Apollo, has appointed Grant Kvalheim to its Board of Directors, replacing Marc Rowan. Kvalheim, who is also a CEO at Athene and a partner at Apollo, will serve on the board’s Executive Committee.
Raymond James has reaffirmed its Strong Buy rating for Apollo Global Management, citing the firm’s robust growth profile and strong flows in wealth and retirement services as key factors. Additionally, Apollo is working to revive a more than $2 billion debt sale related to a buyout of Canadian auto parts manufacturer ABC Technologies Holdings. This debt package is being discussed with private credit firms after previously stalling due to market conditions.
Tristram Leach, Apollo’s co-head of European Credit, emphasized the need for private capital in the defense and artificial intelligence sectors, highlighting the substantial funding requirements in these areas. These recent developments reflect Apollo’s active engagement in various strategic and financial initiatives.
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