Ares Capital Plans to Offer 19 Million Common Shares
Ares Capital Corporation (Nasdaq: ARCC) announced that it plans to make a public offering of 19,000,000 shares of its common stock. Ares Capital also plans to grant the underwriters an option to purchase up to an additional 2,850,000 shares of common stock. The offering of the shares will be made under Ares Capital's shelf registration statement, which was filed with, and declared effective by, the Securities and Exchange Commission. Ares Capital expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities and, to the extent not applied for such purposes, for general corporate purposes, which may include investing in portfolio companies in accordance with its investment objective.
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