Ares Capital Prices Public Offering Of 10 Mln Shares

(RTTNews) - Ares Capital Corp. (ARCC) said that it has priced a public offering of 10 million shares of its common stock.

Ares Capital has granted the underwriters an option to purchase up to an additional 1.50 million shares of common stock.

The offering is expected to close on January 18, 2022. On January 12, 2022, the official close price of Ares Capital's common stock on The NASDAQ Global Select Market under the symbol "ARCC" was $22.05 per share.

Ares Capital expects to use the net proceeds of the offering to repay certain outstanding indebtedness under its credit facilities. Ares Capital may reborrow under its credit facilities for general corporate purposes, which include investing in portfolio companies in accordance with its investment objective.