Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 242

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 242
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 FASB issued guidance to incrementally add disclosures for public entities’ reporting segments including significant segment expenses and other segment items. The Company adopted the guidance for the annual reporting period ended December 31, 2024, and in interim periods beginning January 1, 2025. Refer to Note 18, Segments, for the expanded disclosures.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

3. Business CombinationOn September 2, 2025, Apollo completed the previously announced acquisition of Bridge in an all-stock transaction. As a result, Bridge became a consolidated subsidiary of AAM.Under the terms of the agreement governing the Bridge acquisition, each share of Bridge Class A common stock and each Bridge Investment Group Holdings LLC (“Bridge LLC”) Class A common unit was converted into 0.07081 shares of common stock of AGM and cash paid in lieu of fractional shares. Additionally, each share of Bridge Class B common stock was converted into 0.00006 shares of common stock of AGM and cash paid in lieu of fractional shares. The purchase price was as follows:(In millions, except share price data and exchange ratio)Bridge Class A common stock purchased55.8 Bridge Class B common stock purchased62.7 Bridge LLC Class A common units purchased76.7 Exchange ratio for Class A common stock and Class A common units0.07081 Exchange ratio for Class B common stock 0.00006 Shares of AGM common stock issued in exchange9.4 AGM common stock closing price$136.23 Value of AGM common stock issued in exchange$1,279 Fair value of estimated equity instruments assumed128 Purchase of certain non-controlling interests48 Total consideration1,355 Non-controlling interest489 Total Bridge equity value$1,844 1 All outstanding Bridge equity awards were converted into AGM equity awards, of which $28 million was included as part of the consideration for the portion that was attributable to pre-combination services and $81 million will be treated as post-combination compensation expense over the applicable service period.The consideration transferred is subject to customary post-closing adjustments, which could affect the preliminary goodwill recognized. The Bridge acquisition was accounted for as a business combination. The consideration was allocated to Bridge’s assets acquired and liabilities assumed based on estimates of their fair values as of the Acquisition Date. Adjustments to provisional amounts, if any