NEW YORK--(BUSINESS WIRE)--Apollo Global Management, LLC (NYSE:APO) announced the pricing of a $250.0 million offering of 10,000,000 of its 6.375% Series A Preferred Shares representing limited liability company interests with a liquidation preference of $25.00 per share. In addition, Apollo has granted the underwriters an option to purchase up to an additional 1,500,000 Series A Preferred Shares solely to cover over-allotments. The offering is expected to close on March 7, 2017, subject to customary closing conditions.

Apollo intends to contribute the net proceeds from the sale of the Series A Preferred Shares for general corporate purposes to its indirect subsidiaries, Apollo Principal Holdings I, L.P., Apollo Principal Holdings II, L.P., Apollo Principal Holdings III, L.P., Apollo Principal Holdings IV, L.P., Apollo Principal Holdings V, L.P., Apollo Principal Holdings VI, L.P., Apollo Principal Holdings VII, L.P., Apollo Principal Holdings VIII, L.P., Apollo Principal Holdings IX, L.P., Apollo Principal Holdings X, L.P., Apollo Principal Holdings XI, LLC, Apollo Principal Holdings XII, L.P. and AMH Holdings (Cayman), L.P.

Distributions on the Series A Preferred Shares, when and if declared by AGM Management, LLC, Apollo’s manager, will be paid quarterly and are non-cumulative.

Apollo intends to apply to list the Series A Preferred Shares on the NYSE under the ticker symbol “APO PR A”.

About Apollo

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $192 billion as of December 31, 2016 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.