Ares Capital Prices Stock Offering

(RTTNews) - Ares Capital Corp. (ARCC) said Wednesday that it has priced a public offering of 13.5 million shares of its common stock.

The company has granted the underwriters an option to purchase up to an additional 2.025 million shares of common stock.

The offering is expected to close on July 21, 2014. The official close price of Ares Capital's common stock on The NASDAQ Global Select Market under the symbol "ARCC" was $17.40 per share.

Ares Capital expects to use the net proceeds of the offering to repay certain outstanding indebtedness under its debt facilities and, to the extent not used for such purpose, for general corporate purposes, which may include investing in portfolio companies in accordance with its investment objective.