Business
Ares Capital Corporation Announces Public Offering
NEW YORK--(BUSINESS WIRE)-- Ares Capital Corporation (Nasdaq: ARCC) announced that it plans to make a public offering of 9,000,000 shares of its common
About this update from Ares Capital Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nAres Capital Corporation (Nasdaq: ARCC) announced that it plans to make a public offering of 9,000,000 shares of its common stock. Ares Capital also plans to grant the underwriters an option to purchase up to an additional 1,350,000 shares of common stock. The offering of the shares will be made under Ares Capital’s shelf registration statement filed with the Securities and Exchange Commission on June 3, 2021, which became effective automatically upon filing.\n\nMorgan Stanley & Co. LLC, BofA Securities, UBS Investment Bank, RBC Capital Markets, LLC and Wells Fargo Securities are acting as joint lead book-running managers for this offering. Keefe, Bruyette & Woods, A Stifel Company, and Raymond James & Associates, Inc. are acting as joint book-running managers for this offering. Goldman Sachs & Co. LLC, Janney Montgomery Scott LLC, J.P. Morgan and Oppenheimer & Co. Inc. are acting as co-managers for this offering.\n\nAres Capital expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities. Ares Capital may reborrow under its debt facilities for general corporate purposes, which include investing in portfolio companies in accordance with its investment objective.\n\nInvestors are advised to carefully consider the investment objective, risks, charges and expenses of Ares Capital before investing. The preliminary prospectus supplement dated January 12, 2023 and the accompanying prospectus dated June 3, 2021, which have been filed with the Securities and Exchange Commission, contain this and other information about Ares Capital and should be read carefully before investing.\n\nThe information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The preliminary prospectus supplement, the accompanying prospectus and this press release are not offers to sell any securities of Ares Capital and are not soliciting an offer to buy such securities in any jurisdiction where such offer and sale is not permitted.\n\nThe offering may be made only by means of a preliminary prospectus supplement and an accompanying prospectus. Copies of the preliminary prospectus supplement (and accompanying prospectus) may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New Yor...