Ares Commercial Real Estate Corporation Announces IPO of 7.7M Shares at $18.50
Ares Commercial Real Estate Corporation (NYSE: ACRE) announced that it priced its initial public offering of 7,700,000 shares of common stock at $18.50 per share, raising approximately $142.5 million in gross proceeds. Ares Commercial Real Estate has also granted the underwriters an option to purchase up to an additional 1,155,000 shares of common stock to cover over-allotments, if any.
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