Ares Capital To Offer 14.3 Mln Shares

(RTTNews) - Ares Capital Corp. (ARCC) said Monday that it plans to make a public offering of 14.3 million shares of its common stock.

The company also plans to grant the underwriters an option to purchase up to an additional 2,145,000 shares of common stock.

Ares Capital said it 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.