Apollo Asset Backed Credit Co LLC 8-K

What Happened

• Apollo Asset Backed Credit Company LLC filed an 8-K on June 25, 2026 reporting (1) the issuance and sale of various unregistered share classes to third‑party investors (final counts determined June 25, 2026), (2) the operating manager’s determination of Net Asset Value (NAV) per share as of May 31, 2026, and (3) the declaration of distributions payable to shareholders. The share sales were made as of June 1, 2026 and were exempt from registration under Section 4(a)(2), Regulation D and/or Regulation S.
• The filing also announces a change, effective for NAVs dated on or after July 1, 2026, from the current GAAP Net Asset Value to a Transactional Net Asset Value for subscription and repurchase pricing. The Transactional NAV will adjust GAAP NAV for items such as monthly recognition of shareholder servicing and distribution fees, exclusion of certain deferred tax liabilities, and amortization of certain organizational/offering expenses over 60 months.

Key Details

• Selected unregistered share sales (final numbers set June 25, 2026): Series II P‑S 699,604 shares for $17,900,000; Series II I 509,630 shares for $13,112,772; Series II T‑I 213,930 shares for $5,520,000; Series I T‑S 103,471 shares for $2,635,000; Series I I 73,395 shares for $1,868,838. (See filing for full class-level detail.)
• NAV per share as of May 31, 2026 (examples): Series I I = $25.46; Series I S = $25.58; Series II I = $25.73; Series II T‑I = $25.80. Full NAV table is included in the filing (Exhibit 99.1).
• Distributions declared June 25, 2026: payable to holders of record June 30, 2026 and to be paid on or about July 28, 2026. Examples: Series I I = $0.1016 per share; Series II I = $0.1292 per share. Distributions may be paid in cash or reinvested under the Company’s reinvestment plan.

Why It Matters

• For investors, the reported share sales indicate ongoing capital raising across multiple share classes; those sales were made under private placement exemptions (Reg D/Reg S).
• The July 1 move to a Transactional NAV changes how subscription and repurchase prices are calculated (recognizing certain fees monthly, excluding some deferred tax liabilities, amortizing offering costs). This can affect the price investors pay to buy or receive when shares are repurchased and may change reported NAV versus the transactional price used for flows.
• The declared distributions provide near-term cash (or reinvestment) returns with specific record and pay dates; investors should note the per-share amounts by class if they hold or consider purchasing specific share types.