Apollo Commercial Real Estate Finance said it expects to begin the final steps of its wind-down this month, with a Form 25 to be filed on or about Oct. 27, 2026 and the last day of trading on the NYSE expected to be Nov. 6, 2026.
After delisting, the company plans to transfer its remaining assets and liabilities to a Maryland statutory liquidating trust and expects to deregister with the SEC on Nov. 9, 2026. It then plans to dissolve.
The company said stockholders would receive beneficial interests in the liquidating trust on a one-for-one basis after the transfer. Those interests will not trade on the NYSE or any other exchange, and holders will not have the ability to sell them except in limited cases such as transfer by will, intestate succession or operation of law.
The trust is intended to handle the remaining asset sales and distributions after liabilities are satisfied or reserved for. Any additional liquidating distributions will be determined by the trust’s board of trustees at its discretion.
Stockholders approved the liquidation and dissolution plan on Sept. 29, 2026. Before that vote, Apollo Commercial Real Estate Finance operated as a REIT focused on commercial first mortgage loans, subordinate financings and other commercial real estate debt investments.
The company said ACREFI Management, or an affiliate, is expected to manage the liquidating trust. As a result of these announcements, the company's shares have moved 1.58% on the market, and are now trading at a price of $6.41. For more information, read the company's full 8-K submission here.
