- Ares Capital Corporation (NASDAQ:ARCC) has priced a public offering of 10.5M shares of its common stock.
- The offering was upsized from its previously announced offering size of 9M shares.
- Underwriters are granted an option to purchase up to an additional 1,575,000 shares of common stock.
- Offering is expected to close on January 18, 2023.
- 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, which include investing in portfolio companies in accordance with its investment objective.
- Shares are down 3.21% after-hours.