secwatch.observer — SEC 8-K summary
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Issuer:     Apollo Global Management, Inc. (APO)
CIK:        0001858681
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001193125-23-210853
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Apollo issues $1.438B of 6.75% mandatory convertible preferred stock, upsized from $1B
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- Issued 28.75M shares of 6.75% Series A Mandatory Convertible Preferred Stock; aggregate liquidation preference $1.438B.
- Offering upsized from originally planned 20M shares ($1.0B) to 28.75M shares ($1.438B) including full over-allotment.
- Each preferred share ($50 liquidation preference) automatically converts by July 31, 2026 into 0.5052–0.6062 shares of common stock.
- Net proceeds ~$1.402B after underwriting discounts; dividends payable quarterly at 6.75% annual rate, may be paid in cash or common stock.
- Preferred stock ranks senior to common; no dividends on common unless preferred dividends are fully paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1858681/000119312523210853/0001193125-23-210853-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1858681/000119312523210853/d538322d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-210853

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