January 15, 2007

Apollo Investment Corporation announces pricing of offering of 18 million shares of Common Stock.

On January 11, Willkie client Apollo Investment Corporation announced that it has increased its previously announced public offering of 16 million shares of Common Stock to 18 million shares, and has priced the offering of such shares at $22.44 per share, raising approximately $403.92 million of gross proceeds.   Apollo has granted the underwriters an option to purchase up to an additional 2,700,000 shares to cover potential over-allotments.  The company expects to use the net proceeds of the offering to repay amounts outstanding under its senior credit facility, to make investments in portfolio companies, and for general corporate purposes.   Apollo, a business development company,  invests primarily in mezzanine loans and senior secured loans.  The transaction was handled by partners Margery Neale and Serge Benchetrit, and associates Adam Henslovitz, Christian Ercole, and Danielle Sheer.