ADDED
As of February 9, 2026, there were 139,598,983 shares, $0.01 par value per share, of the registrant ' s common stock issued and outstanding.
Risks Related to the Asset Sale While the Asset Sale is pending, we are subject to uncertainty and contractual restrictions that could disrupt our business.
The Purchase Agreement contains a termination fee and may discourage competing offers.
The Purchase Agreement contains provisions that, after expiration of the go-shop period, could discourage a potential competing acquiror or could result in any competing proposal being at a lower price than it might otherwise be.
Our management agreement with our Manager is difficult to terminate, which may discourage competing proposals from other bidders.
The conditions under the Purchase Agreement to our consummation of the Asset Sale may not be satisfied in the anticipated timeframe or at all.
In the event that the Asset Sale is not consummated, the trading price of our common stock and our future business and results of operations may be negatively affected.
We may face litigation filed against us over the Purchase Agreement.
Our ability to adjourn the Special Meeting is limited, which could prevent us from obtaining the required stockholder approval of the Asset Sale.
Risks Related to Our Future Operations The uncertainty regarding the use of proceeds from the Asset Sale and our future operations may negatively impact the value and liquidity of our common stock 7 Item 1.
REMOVED
federal income tax purposes; our continued exclusion from registration under the Investment Company Act of 1940, as amended (the "1940 Act"); the availability of opportunities to acquire commercial mortgage-related, real estate-related and other securities; the availability of qualified personnel; estimates relating to our ability to make distributions to our stockholders in the future; our present and potential future competition; and unexpected costs or unexpected liabilities, including those related to litigation.
(together with its subsidiaries, "Apollo"), a global, high-growth alternative asset manager with assets under management of approximately $751.0 billion as of December 31, 2024.
As of December 31, 2024, we held a diversified portfolio comprised of approximately $6.7 billion of commercial mortgage loans and $0.4 billion of subordinate loans and other lending assets.
As of December 31, 2024, we had financed this portfolio with $4.8 billion of secured debt arrangements, $761.3 million senior secured term loans (the "Term Loans"), and $500.0 million of 4.625% Senior Secured Notes due 2029 (the "2029 Notes").
Additionally, as of December 31, 2024, we held $752.6 million of real estate assets, and $327.7 million of related financing.
As of December 31, 2024, we had $3.2 billion of borrowings outstanding under our secured debt arrangements, diversified across nine counterparties, and $1.6 billion of borrowings outstanding under our private securitization with Barclays Bank, plc (the "Barclays Private Securitization").
During the year ended December 31, 2024, we entered into one new credit facility and upsized two of our existing credit facilities which provided additional capacity of 366.6 million ($458.8 million converted into USD) and $413.5 million, respectively.
In addition, as of December 31, 2024, we had $1.3 billion of corporate level debt including Term Loans and 2029 Notes.
9 CORPORATE RESPONSIBILITY We believe that taking all available factors into account can help drive value creation.
We have taken an integrated approach to incorporate financially material ESG considerations into our investment analysis and decision-making process.