SCHEDULE: Emerald Holding, Inc. Acquired by Apollo Affiliates

Emerald Holding, Inc. has been acquired by Emma Buyer, LLC, a subsidiary of Apollo Global Management, Inc., in a merger transaction completed on July 14, 2026.

Summary

• Emerald Holding, Inc. (the "Company" or "Emerald") has completed a merger transaction on July 14, 2026.
• The merger was between Emerald Holding, Inc. and Emma Merger Sub, Inc., a subsidiary of Emma Buyer, LLC.
• Emerald Holding, Inc. is now a wholly-owned subsidiary of Emma Buyer, LLC, which is owned by funds managed by affiliates of Apollo Global Management, Inc.
• Each outstanding share of Emerald Common Stock was converted into $5.03 in cash per share.
• This filing serves as an exit filing for the reporting persons, indicating they no longer beneficially own any securities of Emerald Holding, Inc.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it represents a completed transaction with a clear cash payout for shareholders, but also signifies the end of public trading for the company.

Positives

• Shareholders received $5.03 per share in cash, providing a definitive exit value.
• The acquisition by Apollo Global Management, Inc. suggests a strategic move by a major investment firm.

Negatives

• The company is no longer publicly traded, limiting future investment opportunities for public shareholders.
• The cash-out price of $5.03 per share may not reflect the full potential value for all shareholders, especially if appraisal rights were not exercised.

Risks

• Shareholders who did not exercise appraisal rights may not have received the maximum possible value for their shares.
• The future strategic direction and operational changes under Apollo's ownership are not detailed, presenting potential uncertainty for former employees or business partners.

Future Outlook

The filing indicates an 'exit' for the reporting persons, meaning they no longer hold any securities. Future outlook for Emerald Holding, Inc. is now under the control of Apollo Global Management, Inc., with no specific forward-looking statements provided in this filing.

Industry Context

StockSavvy.ai notes that this transaction signifies a trend of private equity firms acquiring publicly traded companies, often to restructure or integrate them into larger portfolios. The $5.03 per share acquisition price will be a key benchmark for similar companies in the retail or distribution sector.

Stakeholder Impact

• Shareholders: Received $5.03 per share in cash, realizing their investment.
• Employees: Future employment terms and conditions are subject to changes under new ownership by Apollo.
• Creditors: The company's debt obligations will continue under the new ownership structure.

Next Steps

• Emerald Holding, Inc. will operate as a wholly-owned subsidiary of Emma Buyer, LLC.
• The reporting persons have completed their disclosure obligations regarding their holdings in Emerald Holding, Inc.

Key Dates

Keywords

Emerald Holding, Inc., Schedule 13D, Merger, Acquisition, Apollo Global Management, Emma Buyer, LLC, Emma Merger Sub, Inc., SEC Filing