Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc. Declare Pre-Merger Distributions
Apollo Senior Floating Rate Fund and Apollo Tactical Income Fund announced pre-merger distributions to stockholders on July 1, 2024. The distributions are set to fully dispense each fund's accumulated, undistributed net investment income before merging with MidCap Financial Investment The mergers are expected to close in late July, pending standard closing conditions. The ex-dividend and record date for both funds is July 11, 2024, with payments scheduled for July 18, 2024. AFT will distribute $0.2463 per share, while AIF will distribute $0.2862 per share. Distributions will be paid in cash, and their tax characteristics will be detailed to stockholders within 45 days post-merger. Both funds have suspended their dividend reinvestment plans as of July 1, 2024.
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NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- Apollo Senior Floating Rate Fund Inc. (NYSE: AFT) and Apollo Tactical Income Fund Inc. (NYSE: AIF) today declared pre-merger distributions to their respective stockholders. The specific distribution dates and amounts are detailed below. As previously announced, AFT and AIF received stockholder approval of the necessary proposals related to their mergers with and into MidCap Financial Investment Corporation (NASDAQ: MFIC), and the mergers are currently expected to close in late July, subject to the satisfaction of customary closing conditions. The pre-merger distributions are intended to fully distribute AFT’s and AIF’s accumulated undistributed net investment income prior to the closing of their mergers with and into MFIC, as required pursuant to the terms of the merger agreements previously signed by AFT and AIF.
The following dates apply to the declared distributions:
Apollo Senior Floating Rate Fund Inc.
Ex-Dividend Date: July 11, 2024
Record Date: July 11, 2024
Payment Date: July 18, 2024
Distribution Amount Per Share:
Apollo Tactical Income Fund Inc.
Ex-Dividend Date: July 11, 2024
Record Date: July 11, 2024
Payment Date: July 18, 2024
Distribution Amount Per Share:
Each of the foregoing distributions will be paid in cash. The specific tax characteristics of the foregoing distributions will be reported to AFT and AIF stockholders within 45 days following the closing of the mergers. Each of these distributions reflects net investment income and may also include return of capital. Return of capital includes distributions paid by a fund in excess of its net investment income. Such excess is distributed from the fund’s assets.
In addition, effective July 1, 2024, AFT and AIF suspended their respective dividend reinvestment plans for their common shares.
Apollo Contact Information:
Product Literature
877-864-4834
Investors
Elizabeth Besen
Investor Relations Manager
Apollo Global Management, Inc.
212-822-0625
ebesen@apollo.com
Forward-Looking Statements
Some of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to: future operating results of MFIC, AFT and AIF, and distribution projections; business prospects of MFIC, AFT and AIF, and the prospects of their portfolio companies, if applicable; and the impact of the investments that MFIC, AFT and AIF expect to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including those set forth in the “Special Note Regarding Forward-Looking Statements” section in our registration statement on Form N-14 (333-275640) previously filed with the Securities and Exchange Commission (the “SEC”). MFIC, AFT and AIF have based the forward-looking statements included in this press release on information available to them on the date hereof, and they assume no obligation to update any such forward-looking statements. Although MFIC, AFT and AIF undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that they may make directly to you or through reports that MFIC, AFT, and/or AIF in the future may file with the SEC, including annual reports on Form 10-K, annual reports on Form N-CSR, quarterly reports on Form 10-Q, semi-annual reports on Form N-CSRS and current reports on Form 8-K.
FAQ
What are the details of Apollo Senior Floating Rate Fund's pre-merger distribution?
When is the ex-dividend date for Apollo Tactical Income Fund's pre-merger distribution?
What is the payment date for Apollo Senior Floating Rate Fund's pre-merger distribution?
How much is Apollo Tactical Income Fund distributing per share pre-merger?
What is the record date for Apollo Senior Floating Rate Fund's pre-merger distribution?
When will Apollo Tactical Income Fund's pre-merger distribution be paid?
Why are Apollo Senior Floating Rate Fund and Apollo Tactical Income Fund declaring pre-merger distributions?
What changes were made to the dividend reinvestment plans of AFT and AIF?
When are the mergers of AFT and AIF with MidCap Financial Investment expected to close?
