Ares Capital prices 8M stock offering

• Ares Capital Corporation (NASDAQ:ARCC) shares are down 3.45% after-hours after the firm has priced a public offering of 8M shares of its common stock.
• Underwriters are granted an option to purchase up to an additional 1.2M shares of common stock.
• The offering is expected to close on November 10, 2022.
• On November 7, 2022, the official close price of Ares Capital’s common stock on The NASDAQ Global Select Market under the symbol “ARCC” was $19.73/share.
• Net proceeds from the offering will be used to repay certain outstanding indebtedness under its credit facilities. Ares Capital may reborrow under its credit facilities for general corporate purposes.
• Earlier, Ares Capital announces stock offering.