Apollo Asset Backed Credit secures $50M seed investment, adopts operating and trademark agreements

Apollo Asset Backed Credit Co LLC

Received $50M seed investment from Apollo subsidiary via 2M E Shares at $25/share; repurchase right at NAV subject to liquidity.
Entered Operating Agreement with Apollo Manager for advisory services; management fees range from 0.75% to 1.00% of NAV.
Entered Trademark License Agreement with Apollo IP Holdings for use of 'APOLLO' name.
Amended and Restated LLC Agreement sets shareholder rights and business scope.
E Shares issued in private offering exempt under Section 4(a)(2) and Regulation D.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Apollo Asset Backed Credit Co LLC: Amended and Restated Limited Liability Company Agreement, updating the terms and conditions for conduct of business and shareholder rights (effective 2024-05-03).

Change: charter amendment
Effective: 2024-05-03

Exact text from the filing

On May 3, 2024, the Company executed its Amended and Restated Limited Liability Company Agreement (the "A&R LLCA"), which amended and restated the Company's Limited Liability Company Agreement, dated as of September 22, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Apollo Asset Backed Credit Co LLC entered into Letter Agreement with Apollo Asset Management, Inc. valued at Apollo made a $50 million seed investment in the Company's E Shares at $25 per share; Apollo may req (effective 2024-05-03).

Action: entry
Agreement: equity purchase
Counterparty: Apollo Asset Management, Inc.
Value: Apollo made a $50 million seed investment in the Company's E Shares at $25 per share; Apollo may req
Effective: 2024-05-03

Exact text from the filing

On May 3, 2024, the Company received a seed investment from a subsidiary of Apollo Asset Management, Inc. (“Apollo”) in the form of a $50 million purchase of the Company’s E Shares in Series II (the “E Shares”) to assist the Company initiate operational and acquisition activities, at a price of $25 per share.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Apollo Asset Backed Credit Co LLC entered into Operating Agreement with Apollo Manager, LLC valued at Operating Agreement entered into (effective 2024-05-03).

Action: entry
Counterparty: Apollo Manager, LLC
Value: Operating Agreement entered into
Effective: 2024-05-03

Exact text from the filing

On May 3, 2024, Apollo Asset Backed Credit Company LLC (the “Company”) entered into an Operating Agreement (the “Operating Agreement”) with Apollo Manager, LLC (the “Operating Manager”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Apollo Asset Backed Credit Co LLC entered into Trademark License Agreement with Apollo IP Holdings, LLC valued at License granted to use service mark, corporate name and trade name "APOLLO" (effective 2024-05-03).

Action: entry
Agreement: license
Counterparty: Apollo IP Holdings, LLC
Value: License granted to use service mark, corporate name and trade name "APOLLO"
Effective: 2024-05-03

Exact text from the filing

On May 3, 2024, the Company entered into a Trademark License Agreement with Apollo IP Holdings, LLC (the “Trademark License Agreement”).

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Source: SEC EDGAR

accession 0001193125-24-135401

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