Apollo Asset Backed Credit Co LLC 8-K

What Happened

• Apollo Asset Backed Credit Company LLC filed an 8-K on March 25, 2026 reporting the sale of unregistered shares to third‑party investors (final share counts determined March 25, 2026), the operating manager’s determination of Net Asset Value (NAV) per share as of February 28, 2026, and the declaration of distributions payable to shareholders. The share sales were completed under exemptions to registration (Section 4(a)(2), including Regulation D for accredited U.S. investors and/or Regulation S for non‑U.S. investors).
• The company reported aggregate cash consideration of approximately $96.9 million from the March share issuances across Series I and Series II share classes. The filing was signed by CFO Robert Rossitto on March 25, 2026.

Key Details

• Total proceeds from the reported unregistered share sales: approximately $96,857,465 (Series I ≈ $4.86M; Series II ≈ $91.998M).
• NAV per share as of Feb 28, 2026:
  • Series I NAVs roughly $25.06–$25.67 (examples: I Shares $25.60; T-I $25.67).
  • Series II NAVs roughly $25.17–$26.11 (highest: P-I $26.11; I Shares $25.89; BD $25.93).
• Distributions declared March 25, 2026, payable to holders of record at close of business March 31, 2026 and to be paid on or about April 28, 2026; examples:
  • Series I: I Shares $0.1001 per share; E Shares $0.1212; range ≈ $0.0820–$0.1212.
  • Series II: I Shares $0.1277 per share; E Shares $0.1584; BD Shares $0.1279; range ≈ $0.1108–$0.1584.
• Offer/sale exemption: Section 4(a)(2) including Regulation D (accredited investors) and/or Regulation S (non‑U.S. investors).

Why It Matters

• The company raised meaningful incremental capital (~$97M) through private share issuances, which can affect asset base and potential deployment by the fund. NAVs near $25–$26 indicate per‑share valuation used for sales and distribution calculations.
• Declared distributions (paid cash or reinvested) specify the near‑term cash return to investors and the record/payment dates (record: Mar 31, paid ~Apr 28), important for existing and prospective shareholders considering income or reinvestment.
• The unregistered nature of the sales (Reg D/Reg S) signals the issuance targeted accredited and/or non‑U.S. investors rather than a public offering.