Apollo Commercial Real Estate Finance, Inc. (the “Company”) (ARI) today announced the Company has priced an underwritten public offering of 13,500,000 shares of common stock for total estimated gross proceeds of approximately $243.0 million. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 2,025,000 shares of common stock. The offering is expected to close on March 16, 2018, and is subject to customary closing conditions. ARI intends to use all or a portion of the net proceeds from the offering to acquire or originate the Company’s target assets, which include commercial first mortgage loans, subordinate financings and other commercial…
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