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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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April 15, 2014
16:20 EDTAPOCaelus Energy Alaska, Apollo Global announce partnership
Caelus Energy Alaska and affiliates of Apollo Global Management (APO) have formed a strategic partnership to invest in oil and gas properties in Alaska. Caelus has closed its first transaction, the acquisition of Pioneer Natural Resources' (PXD) Alaskan oil and gas business, for $300M in cash, subject to adjustments, plus other consideration. Caelus, headquartered in Dallas has an executive management team led by CEO James C. Musselman and a technical team led by Chief Technical Officer Kenny Goh. Among other things, Mr. Musselman previously led Kosmos Energy, which discovered the 1 billion-plus barrel Jubilee field off the West African coast, and Triton Energy, which was acquired by Amerada Hess for $3.2B. Apollo funds have the opportunity to invest up to $1B in Caelus to develop the company's existing assets and to pursue acquisitions or other additional investments.
April 10, 2014
07:49 EDTAPOApollo, EQT, Blackstone mull offers for Gas Natural unit, Bloomberg says
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