Ares Capital Prices Public Offering Of 8 Mln Shares

(RTTNews) - Ares Capital Corp. (ARCC) said that it has priced a public offering of 8 million shares of its common stock. The offering is expected to close on August 2, 2022.

Ares Capital has granted the underwriters an option to purchase up to an additional 1.20 million shares of common stock.

On July 28, 2022, the official close price of Ares Capital's common stock on The NASDAQ Global Select Market under the symbol "ARCC" was $20.11 per share.

The company said it expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its credit facilities. It may re-borrow under its credit facilities for general corporate purposes.