Deal sells 8,823,529 shares, 8 million 8% fixed-to-floating preferreds
By Devika Patel
Knoxville, Tenn., Sept. 23 – Apollo Commercial Real Estate Finance, Inc. settled a $347.68 million private placement of stock and 8% fixed-to-floating series B cumulative redeemable perpetual preferred stock with QH RE Asset Co. LLC on Sept. 18, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 8,823,529 common shares at $17.00 per share and 8 million preferreds at $24.71 apiece.
The price per share is a 1.55% premium to the Sept. 17 closing share price of $16.74.
Apollo is a New York-based real estate investment trust.
| Issuer: | Apollo Commercial Real Estate Finance, Inc.
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| Issue: | Common stock, fixed-to-floating series B cumulative redeemable perpetual preferred stock
|
| Amount: | $347.68 million
|
| Warrants: | No
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| Investor: | QH RE Asset Co. LLC
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| Settlement date: | Sept. 18
|
| Stock symbol: | NYSE: ARI
|
| Stock price: | $16.74 at close Sept. 17
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| Market capitalization: | $986.87 million
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| Common stock
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| Shares: | $150 million
|
| Shares: | 8,823,529
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| Price: | $17.00
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|
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| Preferreds
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| Amount: | $197.68 million
|
| Preferreds: | 8 million
|
| Price: | $24.71
|
| Dividends: | 8%
|
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