Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) announced on October 16, 2026, that it intends to voluntarily delist its common stock from the New York Stock Exchange. The company stated it will file a Form 25, or Notification of Removal from Listing, with the Securities and Exchange Commission (SEC) and the NYSE on or about October 27, 2026. Consequently, the last day of trading on the NYSE is expected to be November 6, 2026.
Following the delisting, the company plans to transfer all remaining assets and liabilities to a statutory trust formed under Maryland law, known as the Liquidating Trust. The Company anticipates deregistering with the SEC on November 9, 2026, and terminating its existence through voluntary dissolution. The purpose of the Liquidating Trust is to wind down the Company’s affairs, liquidate assets, and distribute the proceeds to stockholders after satisfying liabilities.
Shareholders of the Company will receive Beneficial Interests in the Liquidating Trust on a one-for-one basis. However, these interests will not be transferable and will not trade on any exchange. The Company expects ACREFI Management, LLC, an affiliate of Apollo Global Management, to be retained as the manager of the Liquidating Trust. The board of trustees of the trust will have sole discretion regarding the timing and amount of any additional liquidating distributions.
This action follows the approval of the Plan of Complete Liquidation and Dissolution by stockholders on September 29, 2026. The company previously operated as a real estate investment trust focused on commercial first mortgage loans. The company is externally managed by ACREFI Management, LLC, which is an indirect subsidiary of Apollo Global Management, Inc., a global alternative asset manager with approximately $1.05 trillion of assets under management as of June 30, 2026.
