Apollo Management to take preferred stake in merged GroupMAC/Building One

Concurrent with the merger close, an affiliate of private investment firm Apollo Management IV, L.P. will exchange Building One convertible debt plus $150 million cash for roughly $225 million of GroupMAC convertible preferred stock, funding the merger's cash election option.

“Concurrent to the closing of the merger, an affiliate of Apollo Management IV, L.P., a private investment firm, will exchange its Building One convertible debt and $150 million in cash for approximately $225 million of GroupMAC convertible preferred stock.”

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