Company: APO
Filing Date: 2025-05-12
Form Type: S-4/A
Source: 0001193125-25-117912
Chunk: 444

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-12
Form: S-4/A
Chunk 444
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 Salt Lake City, Utah 84070 Dear Members of the Special Committee: We understand that Bridge Investment Group Holdings Inc., a Delaware corporation (“Company”), Bridge Investment Group Holdings LLC, a Delaware limited liability company (“OpCo”), Apollo Global Management, Inc., a Delaware corporation (“Buyer”), Aspen PubCo Merger Sub 1, Inc., a Delaware corporation and wholly owned subsidiary of Buyer (“Merger Sub Inc.”), Aspen Second Merger Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of Buyer (“Merger Sub LLC” and, together with Merger Sub Inc., the “Merger Subs”) and, solely for purposes of Section 6.16 of the Agreement (as defined below), Adam O’Farrell, propose to enter into an Agreement and Plan of Merger, dated as of February 23, 2025 (the “Agreement”), pursuant to which Buyer will acquire the Company and OpCo (the “Transaction”). Pursuant to the Agreement:

| a. | Merger Sub Inc. will be merged with and into the Company, with the Company surviving the merger (the                                                                                                                                                 
 “Corporate Merger”), and each share of the Class A common stock, par value $0.01 per share, of the Company (“Company Class A Common Stock”) issued and outstanding immediately prior to the Effective Time (as defined                               
 in the Agreement), other than shares of Company Class A Common Stock owned directly by Buyer, Merger Sub Inc. or any of their Subsidiaries (as defined in the Agreement) immediately prior to the Effective Time or held in treasury of the Company, 
 will be converted into the right to receive 0.07081 (“Class A Exchange Ratio”) of a share of common stock, par value $0.00001 per share, of Buyer (“Buyer Common Stock”) and cash in lieu of fractional shares of Buyer Common                       
 Stock, if any (such number of shares so issuable, together with such cash, as applicable, the “Class A Corporate Merger Consideration”).                                                                                                             |

| b. | At the Effective Time, by virtue of the Corporate Merger and without any action on the part of Buyer, Merger                                                                                                                                             
 Sub Inc. or the Company or their respective stockholders, each share of Class B common stock, par value $0.01 per share, of the Company (“Company Class B Common Stock”) issued and outstanding immediately prior to the Effective                       
 Time, other than shares of Company Class B Common Stock owned directly by Buyer,