Apollo Commercial (ARI) Prices 7M Common Offering
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Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) announced the Company has priced an underwritten public offering of 7,000,000 shares of common stock. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock. The offering is expected to close on October 9, 2012, and is subject to customary closing conditions.
The Company intends to use the net proceeds from the offering to acquire the Company's target assets, which include commercial first mortgage loans, commercial mortgage-backed securities, subordinate financings and other commercial real estate-related debt investments, and for general corporate purposes.
J.P. Morgan, BofA Merrill Lynch and Citigroup are the joint book-running managers for the offering.
The Company intends to use the net proceeds from the offering to acquire the Company's target assets, which include commercial first mortgage loans, commercial mortgage-backed securities, subordinate financings and other commercial real estate-related debt investments, and for general corporate purposes.
J.P. Morgan, BofA Merrill Lynch and Citigroup are the joint book-running managers for the offering.
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