Ares Capital is seeking to invest 21 million shares, with a potential return of $268 million.
Ares Capital (“Ares”), a private equity firm, is seeking to invest 21 million shares in a public offering. Ares will use the proceeds to repay corporate debt and for other general purposes. The shares will be sold at a public offering price of $12.75 per share, with expected proceeds of $267.75 million. In the event of an oversubscription, Ares has granted its underwriters an option to purchase an additional 3.15 million shares of common stock.
The public offering will be managed by Bank of America Merrill Lynch, JP Morgan, SunTrust Robinson Humphrey, and Wells Fargo Securities.
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