Ares Capital slips on equity offering

• Ares Capital (NASDAQ:ARCC) has launched a public offering of 10M shares of its common stock.
• Underwriters will be granted an option to purchase up to an additional 1,500,000 shares of common stock.
• Ares Capital expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities. The firm may reborrow under its debt facilities for general corporate purposes, which include investing in portfolio companies in accordance with its investment objective.
• ARCC -1.95% AH