APO - Apollo Funds invests $30M in Artius to accelerate decarbonization technology

Paopano/iStock via Getty Images Apollo Funds of Apollo Global Management (APO) invests up to $30M in Artius Acquisition (AACQU) to support the growth of Origin Materials' carbon negative technology platform and to accelerate global decarbonization. The $30M investment consists of APO purchasing 3M shares of common stock at $10/share; the transaction will be in the form of a private placement under a back-stop agreement with Artius. Artius and Origin Materials previously indicated they are merging with the support of APO. Rob Givone, credit partner at Apollo says, "there's growing global demand from companies for more sustainable materials, and we are pleased for our funds to support the business combination between Origin Materials and Artius to help the company meet this demand and move toward a decarbonized world." Previously, (July 14) Artius priced its IPO of 63M units at $10/share

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Apollo Funds invests $30M in Artius to accelerate decarbonization technology