Apollo Global Management, Inc. - APO STOCK NEWS

Apollo (NYSE: APO) has successfully completed the sale of Parallel Infrastructure to Harmoni Towers, marking a significant milestone in its infrastructure strategy. The transaction followed Apollo's acquisition of Parallel in 2020, during which the company doubled in size. Apollo executives expressed pride in Parallel's growth and its strategic fit within Harmoni's operations as a leading tower builder in the U.S. As of September 30, 2022, Apollo managed approximately $523 billion in assets, emphasizing its stature in the alternative asset management space.

Apollo Global Management (NYSE: APO) reported strong Q3 results for the period ending September 30, 2022, with record quarterly fee-related earnings and rising spread-related earnings. Year-to-date inflows have reached $100 billion, exceeding initial targets. A cash dividend of $0.40 per share for common stock will be paid on November 30, 2022. Additionally, preferred shares will see a dividend of $0.398438 per share. Apollo's assets under management total approximately $523 billion as of the end of Q3 2022.

Pegasus Merger Co., backed by Apollo Global Management, announced a private offering of $1.0 billion in senior secured notes due 2028 to finance the acquisition of Tenneco Inc. The proceeds will be allocated towards financing the acquisition, repaying Tenneco's existing debt, and covering related expenses. Upon acquisition, Tenneco will assume obligations under the notes, which will be secured by its subsidiaries. The offering is limited to qualified institutional buyers and is exempt from Securities Act registration.

Intrado Corporation has launched an innovative wearable safety device aimed at enhancing emergency response in educational environments. The device, part of the Safety Suite Solution, features a customizable panic button and offers triple redundancy for 100% connectivity coverage. Upon activation, it transmits precise location and incident data to emergency services and school administrators. This device is designed to improve safety in K-12 schools and higher education institutions, supporting various emergency types including medical and active shooter incidents.

Doral Renewables LLC announced a $500 million capital commitment from Apollo and Migdal, alongside a potential $600 million tax equity from Bank of America. This raises the total committed capital to nearly $2 billion, funding a substantial part of Doral's 10 GWac project pipeline. The convertible notes sold to Apollo Funds will be convertible at a $1.5 billion pre-money valuation. These investments are aimed at commercializing nearly 2 GW of late-stage projects and advancing additional projects towards construction.

Pegasus Merger Co., an affiliate of Apollo Global Management, has amended its cash tender offers for Tenneco's Senior Secured Notes, extending the expiration date to October 31, 2022. The company seeks to purchase outstanding 5.125% and 7.875% Notes, with over 99% and 98% of holders already tendered. The total consideration for the Notes is $1,012.50 per $1,000 principal. The completion of the offer is contingent upon the merger's completion and other conditions. All other terms remain effective as stated in the June 27 Offer to Purchase.

Apollo (NYSE: APO) has appointed Carey F. Lathrop as Partner and COO of its Credit business. With over 30 years of experience in financial services, Lathrop will help scale Apollo’s global platform. The company aims to enhance its growth strategy while providing optimal experiences for clients. Apollo's Yield franchise manages approximately $376 billion in assets as of June 30, 2022, focusing on delivering diverse capital solutions across private and public markets, with annual origination of around $100 billion.

Apollo has committed up to $300 million in a senior secured loan to Circulus Holdings to enhance its recycling infrastructure for post-consumer resin (PCR) production from low-density polyethylene (LDPE). This investment aligns with Apollo's focus on sustainable practices and the circular economy. Circulus utilizes innovative technology to convert plastics, aiming to reduce landfill waste and GHG emissions. The partnership is set to expand Circulus' operations, which currently includes two plants with additional facilities under development.