Apollo CEFs announce stockholder approval of MidCap Financial mergers

Apollo Senior Floating Rate Fund (AFT) and Apollo Tactical Income Fund (AIF), together referred to as the “CEFs,” announced that both CEFs received stockholder approval of the necessary proposals related to their previously announced mergers with and into MidCap Financial Investment Corporation (MFIC) at the AFT and AIF special meetings of stockholders reconvened on June 21. As previously announced, MFIC’s stockholders approved the necessary proposal related to the mergers of the CEFs with and into MFIC at a special meeting of stockholders held on May 28. The mergers are currently expected to close in late July, subject to satisfaction of customary closing conditions. Following the closing of the mergers, the surviving entity will continue to trade on the Nasdaq Global Select Market under the ticker symbol “MFIC.” Upon the closing of the mergers, stockholders of AFT and AIF will receive a number of MFIC shares with a net asset value, or “NAV,” equal to the NAV of the shares they hold in each respective CEF, with the applicable NAVs to be determined shortly before closing. The NAVs per share for the CEFs used in determining these amounts will be adjusted for the distribution of any previously undistributed net investment income and capital gains prior to closing.