Deal sells about 5.9 million shares at $8.45 apiece to Apollo Global
By Devika Patel
Knoxville, Tenn., April 2 - Apollo Investment Corp. completed a private placement of stock on April 2, raising about $50 million, according to an 8-K filed Monday with the Securities and Exchange Commission. Apollo Global Management, LLC was the investor.
The company sold about 5.9 million common shares at $8.45 apiece. The price per share is a 17.85% premium to the March 30 closing share price of $7.17.
Proceeds from this equity sale will be used to capitalize on proprietary market opportunities.
Apollo is a New York-based closed-end investment company.
| Issuer: | Apollo Investment Corp.
|
| Issue: | Common stock
|
| Amount: | $50 million (approximate)
|
| Shares: | 5.9 million (approximate)
|
| Price: | $8.45
|
| Warrants: | No
|
| Investor: | Apollo Global Management, LLC
|
| Settlement date: | April 2
|
| Stock symbol: | Nasdaq: AINV
|
| Stock price: | $7.17 at close March 30
|
| Market capitalization: | $1.47 billion
|
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