Apollo Debt Solutions BDC Files 8-K on Equity Sales

TL;DR

Apollo Debt Solutions BDC filed an 8-K for unregistered equity sales. Watch for dilution.

AI Summary

On October 22, 2025, Apollo Debt Solutions BDC filed an 8-K report detailing unregistered sales of equity securities. The filing also included Regulation FD disclosures and other events, with the report being submitted as of October 23, 2025.

Why It Matters

This filing indicates potential new equity issuance by Apollo Debt Solutions BDC, which could impact existing shareholders through dilution or signal new capital raising activities.

Risk Assessment

Risk Level: medium — Unregistered sales of equity securities can sometimes indicate a need for capital or potential dilution for existing shareholders.

Key Players & Entities

• Apollo Debt Solutions BDC (company) — Registrant
• October 22, 2025 (date) — Date of earliest event reported
• October 23, 2025 (date) — Filing as of date
• 9 West 57th Street (location) — Principal executive offices address
• New York (location) — City of principal executive offices
• 10019 (location) — Zip code of principal executive offices
• 212-515-3200 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $24 — net asset value (" NAV ") per share was $24.52, compared to $24.55 as of August 31,
• $24.55 — AV ") per share was $24.52, compared to $24.55 as of August 31, 2025. The Fund's 1-mon
• $7.7 billion — r 30, 2025 ADS originated approximately $7.7 billion of private debt investments, with a foc
• $22.5 billion — 0, 2025 our portfolio was approximately $22.5 billion based on fair market value across 406 p
• $285 m — irectly originated debt investments was $285 million, 3 and our portfolio's overall we
• $2.1 billion — o was 0.56x, 6 and we had approximately $2.1 billion of excess availability under our secure
• $760 million — Call In September 2025, Apollo led a $760 million transaction for One Call, Inc. (" One C
• $2.25 billion — Home In September 2025, Apollo led a $2.25 billion transaction for Leaf Home, Inc. (" Leaf
• $14.3 b — r 30, 2025 the Fund's aggregate NAV was $14.3 billion, the fair value of its investment
• $8.2 billion — $22.5 billion and it had approximately $8.2 billion of principal debt outstanding, resultin
• $10.0 billion — ly offering on a continuous basis up to $10.0 billion in Shares (the " Offering "). Additiona

Filing Documents

• d36384d8k.htm (8-K) — 58KB
• 0001193125-25-247245.txt ( ) — 160KB
• ck0001837532-20251022.xsd (EX-101.SCH) — 3KB
• ck0001837532-20251022_lab.xml (EX-101.LAB) — 15KB
• ck0001837532-20251022_pre.xml (EX-101.PRE) — 9KB
• d36384d8k_htm.xml (XML) — 3KB

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 22, 2025 Apollo Debt Solutions BDC (Exact name of Registrant as specified in its charter) Delaware 814-01424 86-1950548 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 9 West 57th Street New York , New York 10019 (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code): (212) 515-3200 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: None Title of each class Trading Symbol(s) Name of each exchange on which registered Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item3.02. Unregistered Sale of Equity Securities As of October 1, 2025 Apollo Debt Solutions BDC (the " Fund ," " ADS ," " we " or " our ") sold unregistered Class I common shares of beneficial interest (" Class I Common Shares ") (with the final number of shares being determined on October 22, 2025) to feeder vehicles primarily created to hold the Fund's Class I Common Shares. The offer and sale of these Class I Common Shares was exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) and/or Regulation S thereunder (the " Private Offering "). The following table details the shares sold: Date of Unregistered Sale Amount of Class I Common Shares Consideration As of October 1, 2025 (number of shares finalized on October 22, 2025) 8,013,410 $ 196,477,592 Item7.01. Regulation FD Disclosures October 2025 Distributions On October 22, 2025, the Fund declared distributions for each class of its common shares of beneficial interest (the " Shares ") in the amount per share set forth below: Gross Distribution Shareholder Servicing and/or Distribution Fee Net Distribution Class I Common Shares $ 0.1800 $ 0.0000 $ 0.1800 Class S Common Shares $ 0.1800 $ 0.0177 $ 0.1623 Class D Common Shares $ 0.1800 $ 0.0052 $ 0.1748 The distributions for each class of Shares are payable to shareholders of record as of the open of business on October 31, 2025 and will be paid on or around November 26, 2025. These distributions will be paid in cash or reinvested in shares of the Fund for shareholders participating in the Fund's distribution reinvestment plan. Portfolio and Business Commentary (All figures as of September 30, 2025, unless otherwise noted) For the month ended September 30, 2025, the Fund's net asset value (" NAV ") per share was $24.52, compared to $24.55 as of August 31, 2025. The Fund's 1-month, 3-month, year-to-date, 1-year, 3-year and annualized inception-to-date returns through September 30, 2025 for Class I Common Shares were 0.68%, 2.11%, 6.08%, 8.30%, 12.18% and 8.69%, respectively (inception date was January 7, 2022). 1 As of October 22, 2025, the Fund's annualized distribution rate for Class I Common Shares, including the distribution declared on October 22, 2025, was 8.81%. 2 During the nine months ended September 30, 2025 ADS originated approximately $7.7 billion of private debt investments, with a focus on large cap issuers. The Fund's new directly originated investments had a weighted average spread of 494 basis points. During the nine months ended September 30, 2025, approximately 100% of the Fund's new directly originated investments funded were first lien and approximately 97% were floating rate. As of September 30, 2025 our portfolio was approximately $22.5 billion based on fair market value across 406 portfolio companies and 58 industries. Our portfolio consisted of approximately 100% first lien debt investments and a

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View this 8-K filing on SEC EDGAR