ARI is now a pure liquidation vehicle. Monitor for the filing of articles of dissolution with the Maryland SDAT and subsequent distributions to shareholders. The stock will trade until the final liquidating distribution is made and the stock is delisted. No further operational catalysts.
Price Chart
Executive Summary
Shareholders of Apollo Commercial Real Estate Finance, Inc. (ARI) overwhelmingly approved the company's complete liquidation and dissolution at a special meeting on September 29, 2026, with 72.2 million votes for and only 799,088 against. Concurrently, the company entered into a termination agreement with its manager, ACREFI Management, LLC, waiving any termination fee and providing for payment of accrued compensation and reimbursable expenses upon dissolution. This filing confirms the final step in ARI's wind-down, making the stock a liquidation vehicle with no ongoing business.
Key Facts
- Shareholders approved the complete liquidation and dissolution of the company with 72,217,727 votes for, 799,088 against, and 439,400 abstaining.
- The company entered into a Termination Agreement with its manager, ACREFI Management, LLC, to terminate the management agreement upon dissolution.
- The manager waived any termination fee; the company will pay accrued but unpaid compensation and reimbursable expenses.
- 73,456,215 shares (57.1% of outstanding) were represented at the special meeting.
- The dissolution proposal was approved, so an adjournment proposal was not presented.
Financial Impact
The company is being liquidated; no ongoing operations. The liquidation value per share is not disclosed in this filing.
Risk Factors
- Liquidation proceeds may be below current trading price if assets are sold at a discount.
- Timing of final distribution timeline is uncertain; stock may trade at a discount to liquidation value.
- No ongoing business; stock is a liquidating trust.
- Potential for delays in winding up.
- No further operational catalysts.
- Stock will be delisted after final distribution.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-407837 |
| Document: 0001193125-26-407837-index-headers.html | 0001193125-26-407837 |
| Document: 0001193125-26-407837-index.html | 0001193125-26-407837 |
| Document: 0001193125-26-407837.txt | 0001193125-26-407837 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 9d ago | 8-K | $6.32 $6.37 | ▼ −0.79% | ▼ −0.46% | $6.66 (−5.30%) |
Oct 16, 2026 9d ago | Press Release | $6.32 $6.37 | ▼ −0.79% | ▼ −0.46% | $6.66 (−5.30%) |
Sep 29, 2026 26d ago | 8-K | $6.20 $6.28 | ▼ −1.29% | ▼ −1.11% | $6.66 (−7.34%) |
Sep 16, 2026 5w ago | 8-K | $6.45 $6.42 | ▼ −0.47% | ▼ −0.59% | $6.66 (+3.18%) |
Aug 25, 2026 8w ago | 144 | $6.86 $6.81 | ▼ −0.73% | ▼ −0.75% | $6.66 (−2.99%) |
Aug 15, 2026 10w ago | Institutional Cluster | $6.83 $6.82 | ▼ −0.15% | ▲ +0.53% | $6.66 (−2.56%) |
Jul 13, 2026 14w ago | PREM14A | $10.61 $10.54 | ▼ −0.66% | ▼ −1.06% | $6.66 (−37.28%) |
May 29, 2026 21w ago | DEFA14A | $10.92 $11.00 | ▲ +0.73% | ▲ +0.58% | $6.66 (−39.06%) |
May 15, 2026 23w ago | 8-K | $10.90 $10.82 | ▼ −0.73% | ▼ −0.08% | $6.66 (−38.94%) |
Apr 24, 2026 26w ago | 8-K | $11.09 $11.06 | ▼ −0.27% | ▲ +0.21% | $6.66 (−39.99%) |
US Market Status
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