Apollo Strategic Growth Capital II (APGB-WT) operates as a blank check company, or special purpose acquisition company (SPAC), sponsored by an affiliate of Apollo Global Management, Inc.; it focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more growth-oriented businesses across any industry. The company provides no operational products or services beyond its core SPAC structure, which includes Class A ordinary shares, redeemable warrants exercisable at $11.50 per share, and public units comprising one share and one-fifth of a warrant; it raised approximately $690 million in its February 2021 initial public offering, including $600 million from shares and $15.6 million from private placement warrants. Incorporated in 2008 and headquartered in New York, New York, the company formerly known as APH I (Sub I), Ltd. changed its name in December 2020 and conducts no substantive operations or generates revenue pending a business combination. In a significant development, Apollo Strategic Growth Capital II announced in August 2025 its decision to redeem all outstanding public Class A ordinary shares and liquidate without consummating an initial business combination; it previously planned dissolution in November 2023 but extended deadlines through shareholder votes and non-redemption agreements, ultimately failing to identify a target before the extended deadline, with trading of shares ceasing and redemption proceeds distributed at approximately $10.58 per share.