AINV stock dropped 4 points starting in mid-June on speculation that the financial sector was lagging. As a private equity firm that depends on investments in mid-sized companies, AINV stock dropped.
Apollo Investment announced that it plans to sell 13 million common shares in a public offering. The money raised from this offering will be used to repay debt, make new investments, etc. The underwriters, Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Bear, Stearns & Co. Inc., and Wachovia Capital Markets, LLC, will be given an option to buy additional 1.95 million shares.