Apollo SPAC raises $600m for IPO

Apollo Strategic Growth Capital II, a blank check company formed by Apollo Global Management Inc, has raised $600 million for its IPO after pricing its 60 million shares at $10 per share.

Apollo Strategic Growth Capital II, a blank check company formed by Apollo Global Management Inc, has raised $600 million for its IPO after pricing its 60 million shares at $10 per share. The stock began trading February 10, 2021 on the New York Stock Exchange under the ticker symbol “APGB.U.” Deutsche Bank Securities Inc, Barclays Capital Inc. and Credit Suisse Securities (USA) LLC are the lead underwriters.

PRESS RELEASE

NEW YORK, Feb. 09, 2021 (GLOBE NEWSWIRE) — Apollo Strategic Growth Capital II (the “Company”) today announced the pricing of its upsized initial public offering of 60,000,000 units at $10.00 per unit. The units will be listed on the New York Stock Exchange (the “NYSE”) under the symbol “APGB.U” commencing on February 10, 2021. Each unit consists of one Class A ordinary share of the Company and one-fifth of one warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Company expects the Class A ordinary shares and warrants will be listed on the NYSE under the symbols “APGB” and “APGB WS,” respectively.

The Company is sponsored by APSG Sponsor II, L.P., an affiliate of Apollo Global Management, Inc. (NYSE: APO). The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry.

Deutsche Bank Securities Inc. is acting as a joint bookrunner and representative of the underwriters and Barclays Capital Inc. and Credit Suisse Securities (USA) LLC are acting as joint bookrunners. Apollo Global Securities, LLC, RBC Capital Markets, LLC, Siebert Williams Shank & Co, LLC and Academy Securities, Inc. are acting as co-bookrunners. The Company has granted the underwriters a 30-day option to purchase up to 9,000,000 additional units at the initial public offering price to cover over-allotments, if any.

This offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone +1 800 503 4611, or email: prospectus.cpdg@db.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: +1 888 603 5847, or email: Barclaysprospectus@broadridge.com; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: (800) 221-1037, email: usa.prospectus@credit-suisse.com.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.