Apollo Global Management’s SPAC Apollo Strategic Growth prices $750 million IPO at $10

Meghann Showers

Apollo Strategic Growth Capital, a blank check company formed by Apollo targeting growth-oriented businesses, raised $750 million by offering 75 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The company is led by CEO Sanjay Patel, who is […]

Apollo Strategic Growth Capital, a blank check company formed by Apollo targeting growth-oriented businesses, raised $750 million by offering 75 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.

The company is led by CEO Sanjay Patel, who is Chairman International and Senior Partner of Private Equity at Apollo, and CFO and CAO James Crossen, who serves as the CFO for Private Equity and Real Assets at Apollo. While it has not selected a target industry or geography, the company plans to leverage its management team’s experience and the broader Apollo platform to target growth-oriented businesses. 

Apollo Strategic Growth Capital plans to list on the NYSE under the symbol APSG.U. Citi, Credit Suisse and Goldman Sachs acted as joint bookrunners on the deal.

The article Apollo Global Management’s SPAC Apollo Strategic Growth prices $750 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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