With the delisting and dissolution timeline set, ARI shares will cease trading on November 6, 2026. Investors should plan to exit positions before that date, as post-delisting beneficial interests are non-transferable and illiquid. Monitor the liquidating trust's Form 10-K and 8-K filings for updates on asset sales and distributions.
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Executive Summary
Apollo Commercial Real Estate Finance (ARI) announced the final timeline for its voluntary liquidation and dissolution, including a planned delisting from the NYSE on November 6, 2026, and transfer of remaining assets to a non-tradeable liquidating trust. This marks the end of ARI as a publicly traded REIT, with shareholders receiving non-transferable beneficial interests in the trust and no further trading liquidity.
Key Facts
- ARI will voluntarily delist from NYSE; last trading day expected November 6, 2026.
- Form 25 to be filed on or about October 27, 2026.
- Remaining assets and liabilities will be transferred to a Maryland statutory liquidating trust on or about November 9, 2026.
- Beneficial interests in the liquidating trust will not be transferable and will not trade on any exchange.
- Stockholders approved the liquidation and dissolution plan on September 29, 2026.
- ACREFI Management, LLC or an affiliate will manage the liquidating trust.
- The company expects to deregister with the SEC and dissolve by voluntary dissolution.
- Actual amount and timing of any additional liquidating distributions are at the sole discretion of the trust's board.
Financial Impact
Shareholders will receive non-transferable beneficial interests in the liquidating trust; no further trading liquidity. The final liquidating distribution amounts and timing are uncertain and at the trust's discretion.
Risk Factors
- Shareholders will lose all trading liquidity after November 6, 2026.
- Beneficial interests in the liquidating trust are non-transferable, locking in holders.
- Final liquidating distributions are uncertain in amount and timing.
- Potential for lower-than-expected recoveries from asset sales.
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3382800 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | SC 13G/A | $6.55 | awaiting T+5 | — | $6.59 (+0.61%) |
Oct 16, 2026 11d ago | 8-K | $6.32 $6.64 | ▼ −4.98% | ▼ −5.13% | $6.59 (−4.27%) |
Oct 16, 2026 11d ago | Press Release | $6.32 $6.64 | ▼ −4.98% | ▼ −5.13% | $6.59 (−4.27%) |
Sep 29, 2026 28d ago | 8-K | $6.20 $6.23 | ▼ −0.48% | ▲ +1.43% | $6.59 (−6.29%) |
Sep 16, 2026 5w ago | 8-K | $6.45 $6.26 | ▼ −2.95% | ▼ −3.80% | $6.59 (+2.17%) |
Aug 25, 2026 9w ago | 144 | $6.86 $6.81 | ▼ −0.73% | ▼ −0.19% | $6.59 (−3.94%) |
Aug 15, 2026 10w ago | Institutional Cluster | $6.83 $6.89 | ▲ +0.88% | ▲ +2.07% | $6.59 (−3.51%) |
Jul 13, 2026 15w ago | PREM14A | $10.61 $6.83 | ▼ −35.63% | ▼ −34.33% | $6.59 (−37.89%) |
May 29, 2026 21w ago | DEFA14A | $10.92 $10.98 | ▲ +0.55% | ▲ +3.30% | $6.59 (−39.65%) |
May 15, 2026 23w ago | 8-K | $10.90 $11.04 | ▲ +1.28% | ▼ −0.33% | $6.59 (−39.54%) |
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