The New Home Company and Apollo Announce Completion of


SCOTTSDALE, Arizona and NEW YORK, September 08, 2021 (GLOBE NEWSWIRE) – The New Home Company (NYSE: NWHM) (“NWHM” or “the Company”) and Newport Merger Sub, Inc. (the “Buyer”), an entity controlled by funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (and its consolidated subsidiaries, “Apollo”) today announced the completion successfully from the previously started cash takeover bid by the buyer to purchase all of the outstanding common shares of NWHM.

The take-over bid expired at midnight New York time on September 8, 2021. Upon the expiration of the take-over bid, a total of 16,334,654 common shares of NWHM, representing approximately 89. 95% of the outstanding shares of NWHM, have been validly deposited and not withdrawn from the tender offer. As of this expiration, all the conditions of the tender offer have been met or have been lifted. The Buyer has accepted payment and expects to promptly pay for all such validly deposited and not withdrawn NWHM Shares in accordance with the terms of the tender offer.

Following its acceptance of the shares tendered to the tender offer, the Buyer has acquired a sufficient number of ordinary shares of the Company to complete the Buyer’s merger with and into the Company without the affirmative vote. other shareholders of the Company in accordance with Section 251 (h) of the Delaware General Companies Act. On September 8, 2021, the Purchaser completed the merger. As part of the merger, the remaining outstanding shares were canceled and automatically converted into a right to receive $ 9.00 per share in cash, the same price paid in the tender offer. As a result of the takeover bid and merger, NWHM became an indirect, wholly-owned private subsidiary of the Apollo Funds and the Company’s common shares ceased to trade on the New York Stock Exchange.

JP Morgan Securities LLC is acting as financial advisor to the Apollo Funds and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to Apollo. Citigroup Global Markets, Inc. acted as financial advisor to the Company and Latham & Watkins LLP as legal advisor.

About The New Home Company

The New Home Company is a company listed on the New York Stock Exchange under the symbol “NWHM”. It is a next-generation homebuilder focused on designing, building and selling innovative, consumer-driven homes in major metropolitan areas in select growing markets in California, Arizona and Colorado. For more information on the company and its new residential developments, please visit the company’s website at

About Apollo

Apollo is a high growth global alternative asset manager. We seek to provide our clients with excess return at every step of the risk-return spectrum, from investment grade to private equity, by focusing on three business strategies: yield, hybrid and opportunistic. Through our investing activity on our fully integrated platform, we meet the retirement income and financial performance needs of our clients, and we deliver innovative capital solutions to businesses. Our patient, creative and knowledgeable approach to investing aligns our clients, the companies we invest in, our employees, and the communities we impact on, to expand opportunities and drive positive results. As of June 30, 2021, Apollo had approximately $ 472 billion in assets under management. For more information, please visit

Forward-looking statements

All forward-looking statements, including, but not limited to, statements regarding the transaction between Apollo and NWHM, the strategic and other potential benefits of the transaction, and other statements regarding expectations, beliefs, objectives , Apollo’s future plans or prospects, are subject to risks and uncertainties such as those described under “Risk Factors” in the Company’s periodic reports filed with the Securities and Exchange Commissions (“SEC”). the United States. These statements speak only as of the date of this press release and are based on the current plans and expectations of Apollo and NWHM and involve risks and uncertainties that could cause actual future events or results to differ from those. described or implied by these forward-looking statements. statements, including risks and uncertainties regarding: changes in financial markets; changes in economic, political or regulatory conditions; changes in facts and other circumstances and uncertainties relating to the proposed transaction; and other factors set out from time to time in documents filed by the NWHM with the SEC, including its annual reports on Form 10-K and quarterly reports on Form 10-Q, as well as the public offering statement purchase offer, the solicitation / recommendation statement and other tender offer documents to be filed by Apollo and NWHM, as applicable. Apollo and NWHM caution investors not to place significant reliance on any forward-looking statements contained in this press release. Except as required by applicable law or regulation, Apollo undertakes no obligation to update or revise these forward-looking statements to reflect future events or circumstances.

Important additional information

This communication is neither an offer to buy nor a solicitation of an offer to sell common shares of NWHM, Apollo or any other security. This communication is for informational purposes only.

Investor contact:

Investor Relations
The new homes company inc.
(949) 382-7838
investor [email protected]

For Apollo:

Investor contact:
Noah gunn
Global Head of Investor Relations
Global management of Apollo, Inc.
(212) 822-0540
[email protected]

Media contact:
Joanna rose
Global Head of Corporate Communications
Global management of Apollo, Inc.
212 822 0491
[email protected]


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