secwatch.observer — SEC 8-K summary
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Issuer:     Apollo Commercial Real Estate Finance, Inc. (ARI)
CIK:        0001467760
Form:       8-K
Filed at:   2021-07-20T23:59:59+00:00
Accession:  0001193125-21-219682
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 3.02, 3.03, 312.00, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ARI exchanges 6.77M shares of 8% Series B Preferred for new 7.25% Series B-1 Preferred
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- Issued 6,770,393 shares of 7.25% Series B-1 Preferred in exchange for same number of 8% Series B Preferred held by Qatari government entities.
- New preferred has $25 liquidation preference, cumulative 7.25% dividend ($1.8125/yr), payable quarterly; first dividend Oct 15, 2021.
- Company may optionally redeem Series B-1 after July 15, 2026 at $25/share; mandatory redemption on change of control if majority holders elect.
- Registration rights agreement filed: company must use commercially reasonable efforts to file resale shelf registration within 180 days.
- Exchange exempt from registration under Securities Act Section 3(a)(9); no commissions paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1467760/000119312521219682/0001193125-21-219682-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1467760/000119312521219682/d176660d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-219682

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