Apollo Commercial Real Estate Finance said it expects to take the next steps in its wind-down over the coming weeks, with a Form 25 delisting filing slated for about Oct. 27, 2026 and the last day of trading on the NYSE expected to be Nov. 6, 2026.
After the stock stops trading, the company plans to transfer its remaining assets and liabilities to a Maryland statutory liquidating trust. Apollo Commercial expects to deregister with the SEC on Nov. 9, 2026 and then dissolve. It said the trust will be set up to complete the liquidation, preserve asset value during the process, and distribute proceeds after liabilities are satisfied or reserved for.
The company said stockholders will receive beneficial interests in the liquidating trust on a one-for-one basis after the transfer of assets and liabilities. Those interests will not trade on the NYSE or any other exchange and, except in limited cases such as transfer by will, intestate succession or operation of law, will not be transferable.
Apollo Commercial also said it expects ACREFI Management, or one of its affiliates, to serve as manager of the liquidating trust. Any additional liquidating distributions will be determined by the trust’s board of trustees at its sole discretion.
The liquidation plan was approved by stockholders on Sept. 29, 2026. Before that approval, Apollo Commercial operated as a REIT focused on performing commercial first mortgage loans, subordinate financings and other commercial real estate debt investments. The company said it intends to sell its assets in an orderly fashion and return net proceeds and cash on hand to stockholders after paying liabilities and setting reserves. The market has reacted to these announcements by moving the company's shares 1.58% to a price of $6.41. If you want to know more, read the company's complete 8-K report here.
