Apollo Global Mgmt Inc Stock Price, News & Analysis

Spartan Acquisition Corp. III has successfully completed its initial public offering (IPO), raising $552 million by offering 55,200,000 units at $10.00 each. This includes a full option exercise by underwriters for an additional 7,200,000 units. The units, trading under the symbol 'SPAQ.U', consist of one share of Class A common stock and a redeemable warrant. The transaction was managed by Credit Suisse, Citigroup, and Cowen. Spartan aims to focus on mergers and acquisitions in North America's energy sector, specifically targeting energy transition and sustainability.

Intrado Corporation has launched the Emergency Data Broker, a groundbreaking solution that enhances information delivery between IoT devices and 911 emergency responders. This innovation aims to expedite the dispatch process during emergencies by providing critical data without requiring upgrades to existing 911 infrastructure. Partnering with several IoT service providers, Intrado's platform facilitates the rapid access of incident information to dispatchers. The initiative seeks to improve public safety by leveraging IoT data to save lives and protect property.

Apollo Global Management announced a commitment to invest up to $470 million of preferred equity in US Acute Care Solutions (USACS), aiming to facilitate a full recapitalization of the company while maintaining physician ownership. This investment will allow USACS to expand its operations and enhance growth opportunities. Apollo will also appoint two representatives to USACS' Board of Directors. The transaction is subject to customary closing conditions and is expected to finalize in Q1 2021.

On February 8, 2021, Spartan Acquisition Corp. III announced the pricing of its IPO, offering 48 million units at $10.00 each. The units will trade on the NYSE under the symbol 'SPAQ.U' from February 9, 2021. Each unit includes one share of Class A common stock and one-fourth of a redeemable warrant, allowing purchase of additional stock at $11.50. The offering closes on February 11, 2021. Underwriters, including Credit Suisse and Citigroup, may purchase an additional 7.2 million units. Spartan focuses on energy value chain opportunities in North America, aligned with sustainability themes.

Spartan Acquisition Corp. III has initiated its IPO, offering 40 million units at $10 each, with an option for underwriters to purchase up to 6 million additional units. Each unit includes one share of Class A common stock and a quarter warrant for future purchase at $11.50. The offering will trade on the NYSE under the ticker 'SPAQ.U.' Managed by Credit Suisse, Citigroup, and Cowen, this IPO aims to focus on the energy sector in North America, particularly aligned with energy transition and sustainability themes. The registration with the SEC is pending effectiveness.

Apollo Global Management (NYSE: APO) reported strong results for the fourth quarter and full year ended December 31, 2020, with assets under management (AUM) increasing by $124 billion, or 38%, to $455 billion. The firm declared a cash dividend of $0.60 per Class A share for Q4, payable on February 26, 2021. Apollo is enhancing corporate governance and has named Marc Rowan as the new CEO. Despite market volatility, Apollo achieved record inflows and investments, showcasing the resilience of its business model.

Apollo Global Management (NYSE: APO) has announced its first private equity investment in Japan by acquiring the Aluminum Can and Aluminum Rolling Businesses from Showa Denko K.K. The deal represents a strategic move to tap into high-quality assets with growth potential in Japan and Asia. Apollo aims to leverage its expertise in metals and packaging to unlock value and support the management team in the future growth of the business. The transaction is expected to close by August 2021, pending regulatory approvals.

Apollo Global Management (NYSE: APO) announced the completion of an independent review by its Conflicts Committee regarding Chairman and CEO Leon Black's past relationship with Jeffrey Epstein. The review, conducted by law firm Dechert LLP, found that Apollo never hired Epstein for services, nor did he invest in Apollo-managed funds. Black engaged Epstein for legitimate trust and estate planning advice, supported by vetted professionals. The report, which reviewed over 60,000 communications and interviewed more than 20 individuals, found no link between Black and Epstein's criminal activities. The findings align with Apollo's prior statements.

Apollo Global Management announced significant leadership changes, with Leon Black set to retire as CEO by July 31, 2021. He will remain Chairman while Marc Rowan is appointed as the new CEO. The Board will expand with four new independent directors, including Pamela Joyner and Siddhartha Mukherjee, effective March 1, 2021. The company is also considering a simplified voting structure and governance changes to enhance shareholder alignment. Notably, Apollo’s assets under management increased by $22 billion to $455 billion, indicating strong growth prospects.