Apollo Global Management, Inc. - APO STOCK NEWS

Apollo Global Management (NYSE: APO) has announced its 2020 Annual Meeting of Stockholders will be held on October 1, 2020, at 9:00 a.m. EDT, conducted virtually due to COVID-19. The record date for the meeting is August 7, 2020, and any proposals for business or nominations must be received by August 6, 2020, by 5:00 p.m. EDT. Proxy materials will be mailed around August 21, 2020, and available on the SEC and Apollo's website. As of March 31, 2020, Apollo managed approximately $316 billion in assets across various industries.

Intrado Corporation has appointed Eula Adams to its board of directors. Adams, currently the CEO of Neuromonics, brings extensive leadership experience from roles at Xcore Corporation, Pay By Touch, and Western Union. With a strong background in technology, operations, and finance, he is expected to drive growth for Intrado. Adams holds a Bachelor’s in Accounting and an MBA from Harvard and is a Certified Public Accountant. Intrado is a global technology partner, with operations worldwide, and is controlled by Apollo Global Management (NYSE: APO).

Apollo Global Management (NYSE: APO) has upsized its investment partnership with Apeiron Management, extending their collaboration focused on special situations and corporate credit investments in Italy.

Since their partnership began in February 2018, Apollo has invested nearly EUR 300 million, with an additional EUR 100 million committed immediately. The partnership will continue to target corporate credit opportunities across various sectors, leveraging Apeiron's local expertise to execute complex transactions.

Apollo Global Management plans to release its second quarter 2020 financial results on July 30, 2020, before the NYSE opens. The management will host a conference call at 10:00 a.m. ET to discuss these results, accessible by phone or through a webcast on Apollo's website. As of March 31, 2020, Apollo had assets under management of approximately $316 billion across various sectors, signaling its substantial market presence. The company warns of potential risks to its business performance due to market conditions, reliance on key personnel, and the impact of the COVID-19 pandemic.

Apollo Global Management (NYSE: APO) has announced the launch of Apollo Strategic Origination Partners, a new origination platform aimed at providing approximately $12 billion in financings over the next three years. The Partnership, supported by Mubadala Investment Company, will focus on transactions around $1 billion to cater to rising corporate demand for direct origination solutions. This initiative leverages Apollo's extensive experience in capital solutions and aims to address financing needs between middle-market lending and broadly syndicated loans.

Apollo Global Management (NYSE: APO) and Merx Aviation announced a sale and leaseback transaction with Delta Air Lines involving ten Airbus A220-100 aircraft manufactured in 2019. This strategic move aims to enhance Delta's liquidity amid market challenges, as these aircraft are integral to Delta's domestic fleet, noted for their fuel efficiency and low emissions. Merx, a subsidiary of Apollo, provides integrated aviation solutions and manages a diverse fleet across 26 countries, while Apollo oversees approximately $316 billion in assets as of March 31, 2020.

Apollo Global Management has completed its acquisition of Tech Data Corporation, valued at approximately $6 billion. As part of this transition, Tech Data plans to invest $750 million in digital transformation initiatives over the next five years, enhancing its service capabilities and agility. With a $3.75 billion equity investment from Apollo, Tech Data is positioned as one of the lowest levered sponsor-backed companies, facilitating its strategic growth without the pressure of public ownership. Shareholders will receive $145 in cash per share following the acquisition.

Apollo Global Management has extended the expiration date for the tender offers and consent solicitations for Tech Data Corporation's senior notes. The new expiration date is June 29, 2020. The offers include purchasing any outstanding 3.700% Senior Notes due 2022 and 4.950% Senior Notes due 2027. As of June 26, 2020, approximately 86.83% of the 2022 Notes and 73.88% of the 2027 Notes had been validly tendered. These actions are part of a merger agreement where Tiger Midco, LLC plans to acquire Tech Data Corporation.

Intrado's Health Advocate will provide health advocacy and navigation services to over 60,000 employees of the State of Connecticut. The initiative aims to enhance healthcare access and manage costs for employees and their families. Services include finding in-network providers, reviewing diagnoses, coordinating second opinions, and resolving billing issues. Available from September, the personalized support will help employees maximize their benefits through a preferred provider network. This collaboration is expected to improve employee health outcomes while controlling expenses.