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Apollo Completes Offering of $275 Million in Preferred Shares
- Client News
- March 7, 2017
Paul, Weiss represented Apollo Global Management, LLC in a public offering of its new series of 6.375% Series A Preferred Shares with a liquidation preference of $25.00 per share. The offering was comprised of 11,000,000 Series A Preferred Shares representing gross proceeds of $275 million, including 1,000,000 of Series A Preferred Shares sold pursuant to the over-allotment option granted by Apollo to the underwriters. Apollo contributed the offering proceeds to 13 indirect subsidiaries in exchange for preferred interests that mirror the terms of the 6.375% Series A Preferred Shares.
The Paul, Weiss team included, among others, corporate partners Gregory Ezring, Brad Finkelstein and Brian Finnegan and counsel Bruce Goldberger; and tax partner Brad Okun.