Apollo Global Mgmt Inc Stock Price, News & Analysis

Pegasus Merger Co., affiliated with Apollo Global Management, has announced significant participation in its cash Tender Offer for Tenneco's Senior Secured Notes. As of July 12, 2022, holders tendered approximately $766.2 million of 5.125% Notes, representing 95.78% of the total. Additionally, $489.3 million of 7.875% Notes were tendered, equating to 97.87%. Supplemental Indentures have been executed to amend 'Change of Control' requirements linked to Tenneco's merger. The early tender deadline is extended to July 19, 2022, with potential settlement expected in the second half of 2022.

Brightspeed has announced plans to develop a significant fiber optics network across Missouri, targeting over 130,000 new fiber passings by the end of 2023 and a total of 310,000 locations over several years. The company is investing more than $2 billion in this initiative, aiming to provide high-speed internet to urban and rural areas. Brightspeed's proposed network will leverage state-of-the-art technology, enabling speeds over 1Gbps. The acquisition of assets from Lumen Technologies is pending final approvals, with expectations to finalize by early Q4 2022.

Apollo has announced a strategic investment of $175 million in Summit Ridge Energy, a leader in community solar assets. This investment will enhance Summit Ridge's efforts to increase its solar and battery storage projects, aiming for over 500 MW of solar and 100 MWh of battery storage online by the end of 2023. The partnership seeks to support communities in accessing clean energy and drive sustainable growth within the renewables market. Apollo plans to invest $50 billion in clean energy over the next five years, reflecting its commitment to a sustainable future.

Apollo (NYSE: APO) will release its financial results for the second quarter of 2022 on August 4, 2022, before market open. Management will conduct a review via public webcast at 9:30 am ET, accessible through their website. As of March 31, 2022, Apollo had approximately $513 billion in assets under management, focusing on yield, hybrid, and equity investment strategies. They aim to provide clients with innovative capital solutions and help achieve financial security through their retirement services. A replay of the webcast will be available one hour after the event.

Brightspeed is set to install up to 14,000 new fiber connections in Louisiana by the end of 2023, with plans for an additional 14,000 in future phases, totaling 28,000 fiber-enabled locations. The initiative aims to enhance broadband access across several parishes, including Acadia and Calcasieu. Brightspeed, which is associated with Lumen Technologies, anticipates investing $2 billion in its fiber transformation and expects to connect up to 3 million homes and businesses over five years, utilizing advanced technologies for optimal performance.

New Fortress Energy (NASDAQ: NFE) and Apollo (NYSE: APO) announced a definitive agreement to sell 11 LNG infrastructure vessels for approximately $2 billion, with the joint venture owning 80% by Apollo and 20% by NFE. This deal aims to establish a global marine infrastructure platform supporting LNG delivery, enhancing energy security, and reducing carbon emissions. NFE expects to receive around $1.1 billion after the transaction. The deal is projected to close in Q3 2022, subject to regulatory approvals.

Brightspeed has secured all necessary state regulatory approvals across 20 states, marking a significant step towards launching its fiber-based internet services. The company plans to invest over $2 billion to enhance connectivity for up to 3 million homes over the next five years, especially in underserved areas. The acquisition of Lumen’s operations is expected to close in early Q4 2022, pending FCC approval. Brightspeed's technology will support internet speeds exceeding 1Gbps, aiming to bridge the digital divide effectively.

Brightspeed announced a major fiber optics network expansion in Ohio, targeting over 170,000 potential customers by the end of 2023. The company plans to invest at least $2 billion to reach up to 3 million homes and businesses over five years, with a total of 380,000 fiber passings expected. The roll-out will occur in multiple counties, enhancing access to high-speed internet. Regulatory approvals for the acquisition of Lumen Technologies by Apollo-managed funds are anticipated in Q3 2022, with transaction closure expected in Q4.

Pegasus Merger Co., an affiliate of Apollo Global Management, launched cash tender offers to acquire all outstanding 5.125% and 7.875% Senior Secured Notes from Tenneco Inc. The offers aim to amend existing indentures and are part of the pending merger with Tenneco, expected to close in H2 2022. The tender offers will expire on July 26, 2022, with an early tender date of July 12, 2022. Holders tendering notes early will receive $1,012.50, while those tendering after will receive $982.50 per $1,000 in principal. The transaction is conditioned on receiving requisite consents and other closing conditions.