Ares Capital sets 12.5M share capital raise

Jul. 28, 2021 4:17 PM ETAres Capital (ARCC), ARESARCC, ARESBy: Preeti Singh, SA News Editor41 Comments
  • Specialty finance company Ares Capital (NASDAQ:ARCC) has announced plans to offer 12,500,000 common shares in a public offering.
  • Underwriters may be granted an option to purchase up to an additional 1,875,000 shares of common stock.
  • Net proceeds of this offering will be used to repay certain outstanding indebtedness under the company's debt facilities. Ares Capital may reborrow under its debt facilities for general corporate purposes.
  • Ares Capital is externally managed by a subsidiary of alternative asset manager Ares Management Corporation (NYSE:ARES).
  • Ares Capital reported its Q2 results reflecting portfolio growth, record quarterly originations and record net asset value per share.

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