On July 28, 2014 Ares Capital Prices Offering of 13.5 Million Common Shares On July 16, 2014, Ares Capital Corporation (Nasdaq: ARCC) announced that it priced a public offering of 13.5 million shares of its common stock.
On July 16, 2014, Ares Capital Corporation (Nasdaq: ARCC) announced that it priced a public offering of 13,500,000 of its common shares. Ares Capital also granted the underwriters the option to buy an additional 2,025,000 common shares. The official close price of Ares Capital's common stock on The NASDAQ Global Select Market on July 15, 2014, was $17.40 per share. The offering is being made under Ares' shelf registration statement (as amended), which has filed with and declared effective by the SEC. Ares Capital plans to use the net proceeds of this offering to repay outstanding indebtedness under its debt facilities and for general corporate purposes. Ares is a specialty finance company that provides debt and equity financing solutions to the middle market in the U.S. The offering, which is subject to customary closing conditions, is expected to close in July 2014. To read the press release, please click here.