Apollo Investment (AINV) to Offer 15M Shares

Apollo Investment Corporation (NASDAQ: AINV) announces that it plans to make a public offering of 15,000,000 shares of its common stock. Apollo Investment Corporation plans to also grant the underwriters an option to purchase up to an additional 2,250,000 shares of common stock to cover over-allotments, if any. The offering price of the shares, subject to approval of the Company's Board or its Pricing Committee, will be determined by market conditions at the time of pricing in consultation with the underwriters of the offering. The offering of the shares will be made under the Company's shelf registration statement filed with the Securities and Exchange Commission.

The Company expects to use the net proceeds of this offering to repay outstanding indebtedness, to fund investments in portfolio companies and for general corporate purposes.

Citi, BofA Merrill Lynch, J.P. Morgan Securities Inc. and Wells Fargo Securities, LLC are joint bookrunning managers for the offering. SunTrust Robinson Humphrey, Inc., BMO Capital Markets Corp., RBC Capital Markets Corporation and Keefe, Bruyette & Woods, Inc. are co-managers.