Close

Apollo Investment Corp. (AINV) Misses Q4 EPS by 2c; Appoints New President; Explores $200M of Financing

February 8, 2012 7:48 AM EST
Get Alerts AINV Hot Sheet
Price: $13.65 --0%

Today's EPS Names:
FSI, RELV, NEOM, More
Join SI Premium – FREE
Apollo Investment Corporation (NASDAQ: AINV) reported Q4 EPS of $0.20, $0.02 worse than the analyst estimate of $0.22.

The Board announced today that Edward Goldthorpe will be joining Apollo Investment Corporation as its President, succeeding Patrick Dalton, who formerly held positions as President and Chief Operating Officer. From the release: 'Edward Goldthorpe will also replace Mr. Dalton as Chief Investment Officer of our investment adviser."

The Board has authorized management to explore whether the Company should raise up to $200 million of additional equity capital, which may be conducted, among other means, through either a marketed deal or a rights offering. Apollo Global Management has informed the Company that it intends to support AINV's equity capital raise, which in the case of a rights offering could include the exercise of oversubscription rights as a backstop for up to $50 million. In further support of an equity offering, Apollo Investment Management has informed the Company that it intends to waive its management and incentive fees associated with any shares issued through this offering. Additionally, Apollo Global Management may also purchase shares of AINV in the open market.

For earnings history and earnings-related data on Apollo Investment Corporation (AINV) click here.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings, Equity Offerings, Management Changes, Momentum Movers

Related Entities

Earnings