Apollo Commercial Real Estate Finance to Delist From NYSE in October

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) has notified the New York Stock Exchange of its intention to voluntarily delist its common shares, a final step in the wind-down process approved by stockholders on September 29, 2026. The company expects to file Form 25 with the Securities and Exchange Commission and the NYSE on or about October 27, 2026, with the last day of trading on the NYSE scheduled for November 6, 2026.

Following delisting, the company will transfer all remaining assets and liabilities to a statutory trust formed under Maryland law, known as the Liquidating Trust. This trust is designed to wind up the company's affairs, liquidate remaining assets in an orderly fashion, and distribute the net proceeds to holders of beneficial interests after satisfying all liabilities. Apollo Commercial Real Estate Finance intends to deregister with the SEC on November 9, 2026, and terminate its existence through voluntary dissolution.

Stockholders will receive beneficial interests in the Liquidating Trust on a one-for-one basis. These interests will not be represented by certificates or other instruments and will not trade on the NYSE or any other exchange. Except for limited transfers by will, intestate succession, or operation of law, holders will not have the authority to sell or dispose of their interests.

ACREFI Management, LLC, or one of its affiliates, is expected to be retained as manager of the Liquidating Trust to oversee day-to-day operations. The board of trustees will determine the amount and timing of any additional liquidating distributions in its sole discretion. Based on SEC guidance for similar situations, the Liquidating Trust anticipates filing only annual reports on Form 10-K with unaudited financial statements and current reports on Form 8-K, using the company's existing SEC file number.

Prior to stockholder approval of the Plan of Complete Liquidation and Dissolution, Apollo Commercial Real Estate Finance functioned as a real estate investment trust focused on commercial real estate debt. Its portfolio consisted primarily of performing first mortgage loans, subordinate financings, and other related debt instruments. The company is externally managed by ACREFI Management, LLC, an indirect subsidiary of Apollo Global Management, Inc., which reported approximately $1.05 trillion in assets under management as of June 30, 2026. The definitive proxy statement detailing federal income tax consequences was filed with the SEC on August 24, 2026.