Company: APO
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119946
Chunk: 83

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-14
Form: 424B3
Chunk 83
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 27, 2024, the special committee received an updated letter of intent and non-binding
term sheet from Apollo regarding a potential transaction with Bridge, which transaction would be structured as a stock-for-stock transaction involving the acquisition of
100% of the issued and outstanding equity interests of Bridge, an increased implied price per share of Bridge Class A common stock of $10.00 per share (which represented an approximately 8.1% increase from the offer in the August Proposal) and
an exchange ratio to be fixed at signing (the “November Proposal”). The closing price per share of Bridge Class A common stock on November 27, 2024 was $9.89. The November Proposal assumed that the parties to Bridge’s TRA
would waive any right to accelerated payments due under the TRA that would be triggered by virtue of the potential transaction.

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On November 30, 2024, the special committee held a meeting with representatives of
Cravath and Lazard. At the meeting, the special committee discussed Mr. Leat’s role on the special committee in light of the receipt of the November Proposal, and Mr. Leat shared with the special committee that he had not accepted any
consulting or similar roles with Apollo to date. Representatives of Cravath noted that while the special committee was evaluating potential proposals from both Apollo and Bidder H, Mr. Leat would be recused from any consideration of the
proposals from Apollo going forward. Following discussion, the special committee determined that, going forward, Mr. Leat would recuse himself from any and all deliberations, discussions and decision-making of the special committee related to
any proposal by Apollo or otherwise and, in the event that the special committee were to decide to pursue a transaction with Apollo, Mr. Leat would then resign from the special committee. The special committee discussed the status of
negotiations with Bidder H and the expected timing for receiving a written proposal from Bidder H. At that point, Mr. Leat departed the meeting, and the special committee discussed the November Proposal and potential responses to Apollo.
Following discussion, the special committee directed Lazard to also share the November Proposal with J.P. Morgan and Bridge’s management team for their information and to convey to Apollo that the November Proposal was not sufficient for the
special committee to engage in negotiations with Apollo regarding a transaction. Due to the uncertainty facing Bridge’s business and the timing for various key developments (including interest rates, the real estate sector,