{"id":12668,"date":"2023-11-11T19:36:52","date_gmt":"2023-11-11T19:36:52","guid":{"rendered":"https:\/\/infundpros.com\/investment\/apollo-backed-blank-check-company-wont-complete-a-combination\/"},"modified":"2023-11-11T19:36:53","modified_gmt":"2023-11-11T19:36:53","slug":"apollo-backed-blank-check-company-wont-complete-a-combination","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=12668","title":{"rendered":"Apollo-Backed Blank-Check Company Won&#8217;t Complete a Combination"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20231110-712815\" role=\"document\">\n<p>By Josh Beckerman<\/p>\n<pre><\/pre>\n<p>Special-purpose acquisition company Apollo Strategic Growth Capital II said it won&#8217;t complete a business combination and will redeem its shares.<\/p>\n<p>The company expects the per-share redemption price for public shares will be about $10.58. Its last trading day will be Nov. 27.<\/p>\n<div class=\"paywall\">\n<p>The company, which is backed by Apollo Global Management, raised $690 million in its February 2021 initial public offering, including the full exercise of the overallotment option.<\/p>\n<p>In May, stockholders approved an extension of the SPAC&#8217;s deadline to complete a merger to Feb. 12, 2024, or an earlier date determined by the board. The company said in a May securities filing that it expected about $184.4 million would remain in its trust account, compared with about $708 million at April 4, due to redemptions.<\/p>\n<p>In May 2022, the blank-check company Apollo Strategic Growth Capital merged with American Express Global Business Travel. Another SPAC backed by Apollo Global withdrew its IPO filing in November 2022.<\/p>\n<pre><\/pre>\n<p>Write to Josh Beckerman at josh.beckerman@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/apollo-backed-blank-check-company-won-t-complete-a-combination-3e62a778?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Josh Beckerman Special-purpose acquisition company Apollo Strategic Growth Capital II said it won&#8217;t complete a business combination and will redeem its&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-12668","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investment"},"yoast_head":"<!-- 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