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Stock Market & Financial Investment News

News Breaks
October 26, 2012
07:01 EDTPGRX, APOApollo, Prospect Global Res. enter exclusivity arrangement for $100M investment
Prospect Global Resources (PGRX) announced that it has entered into an exclusivity arrangement with an affiliate of Apollo Global Management, LLC (APO) pursuant to which funds managed by APO would purchase $100M of newly issued 10% Convertible Second Lien Notes, expected to fund in the 1H of 2013. Additionally, Apollo would have an option to purchase 16.7M shares of Prospect Global common stock at an exercise price of $3.00/share, which, if exercised, would provide additional net proceeds to Prospect Global of $50.1M. The company intends to use the proceeds from the Apollo financing to continue development of its proposed potash mining facility being developed in Holbrook, Arizona, by the company's wholly-owned subsidiary, American West Potash.
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July 11, 2014
08:19 EDTAPOApollo Global valuation attractive after pullback, says BMO Capital
After meeting with Apollo Global's CFO, BMO Capital is upbeat about the company's outlook. The firm expects the company's credit business to be a growth driver for years to come, although its private equity business is expected to show very slow growth, according to BMO Capital. The firm raised its price target on the shares to $36 from $35 and keeps an Outperform rating,

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