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.
