Apollo Investment raises $382M in public offering

By Associated Press May 13, 2008 Comments (0)

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Apollo Investment Corp., which invests mainly in midsized private companies, said Tuesday that it priced a public offering of 22.3 million shares of common stock at $17.11 apiece, for total proceeds of about $382 million.

Leon Black, chairman and chief executive of Apollo Global Management, has subscribed for $10 million worth of the shares, while Joshua Harris, president of Apollo Global, has subscribed for $2.5 million worth.

The company plans to use proceeds to repay debt, invest in portfolio companies and for general corporate purposes.

JPMorgan Securities; Keefe, Bruyette & Woods; SunTrust Robinson Humphrey; and BB&T Capital Markets are underwriting the offering, which is expected to close May 16.

Apollo shares fell 15 cents to $17.13 in morning trading.

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DocumentId: 643669, ~/articles/articlehandler.aspx, 7/9/2008 2:45:12 AM, No ticker

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