Apollo Global Mgmt Inc Stock Price, News & Analysis

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.

Apollo (NYSE: APO) has announced a strategic partnership with Haveli Investments, committing $500 million to support Haveli's technology-focused investment strategies. This partnership aims to leverage Apollo's resources to accelerate Haveli's growth in the technology sector. Brian Sheth, Haveli's CIO, emphasized the alignment of values between the firms, particularly in sustainability and diversity. Apollo CEO Marc Rowan noted the potential for technological advances in gaming to benefit the broader financial ecosystem. As of June 30, 2022, Apollo manages approximately $515 billion in assets.

New Fortress Energy (NASDAQ: NFE) announced the successful closing of the CELSE Power Plant sale to Eneva S.A., marking a key transaction following the initial announcement on June 1, 2022. This move, alongside Ebrasil Energia Ltda, simplifies NFE's capital structure and is aimed at achieving an investment grade credit rating. Proceeds will fund its Fast LNG program and other LNG projects globally. The sale also allows NFE to pay off debts, while Eneva will assume CELSE's obligations. Energos Infrastructure, a joint venture with Apollo (NYSE: APO), will continue operating the Golar Nanook for CELSE.

Brightspeed has launched operations following its acquisition of ILEC assets from Lumen Technologies (NYSE: LUMN) by Apollo-managed funds (NYSE: APO). It is now the fifth largest ILEC in the U.S., covering over 6.5 million locations. Brightspeed invests at least $2 billion to enhance its fiber network, targeting 1 million new fiber passings in 17 states by year-end 2023. The company aims to bridge the digital divide and improve connectivity in underserved areas, leveraging advanced technologies like XGS-PON and Wi-Fi 6.