Ares Capital Corporation Price Public Offer | New



Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced a public offering of 8,000,000 shares of common stock. Ares Capital has granted the underwriters an option to purchase up to an additional 1,200,000 common shares. The offering is subject to customary closing conditions and is expected to close on November 10, 2022. The stock offering is being made pursuant to Ares Capital’s shelf registration statement filed with the Securities and Exchange Commission on November 3, 2022. June 2021, which entered into force automatically. when filing. On November 7, 2022, the official closing price of Ares Capital common stock on the NASDAQ Global Select Market under the symbol “ARCC” was $19.73 per share.

Morgan Stanley & Co. LLC, BofA Securities, UBS Investment Bank, RBC Capital Markets, LLC and Wells Fargo Securities are acting as co-lead bookkeepers for this offering. Keefe Bruyette & Woods, A Stifel company, and Raymond James & Associates, Inc. are acting as joint bookrunners for this offering. Goldman Sachs & Co. LLC, Janney Montgomery Scott LLC, JP Morgan, Oppenheimer & Co. Inc., Academy Securities, Inc., Compass Point Research & Trading, LLC, Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc. , R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC are acting as co-managers of this offering.

The Underwriters may offer the Common Shares from time to time for sale in one or more transactions on the NASDAQ Global Select Market, over-the-counter market, through negotiated transactions or otherwise at market prevailing at the time of the sale. , at prices related to prevailing market prices or negotiated prices.

Ares Capital expects to use the net proceeds of this offering to repay certain outstanding debts under its credit facilities. Ares Capital may re-borrow under its credit facilities for general corporate purposes, which includes investing in portfolio companies in accordance with its investment objective.

Investors are advised to carefully consider Ares Capital’s investment objective, risks, charges and expenses before investing. The preliminary prospectus supplement dated November 7, 2022 and 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.

The information contained in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and is subject to change. The preliminary prospectus supplement, the accompanying prospectus and this press release do not constitute offers to sell securities of Ares Capital and do not solicit an offer to buy such securities in any jurisdiction where such an offer and sale are not permitted..

The offering may only be made 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 York, NY 10014, Attn: Prospectus Department; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or email [email protected]; UBS Securities LLC at 1285 Avenue of the Americas, New York, New York, 10019, Attn: Prospectus Department, by phone at (888) 827-7275, or by email: [email protected]; RBC Capital Markets, LLC at 200 Vesey Street, 8th Floor, New York, New York, 10281, Attn: Prospectus Department, or by telephone at (877) 822-4089; or Wells Fargo Securities at 500 West 33rd Street, New York, New York, 10001, Attn: Equity Syndicate Department, by calling toll free 1-800-326-5897, or by email at [email protected].


Founded in 2004, Ares Capital is a leading specialty finance firm focused on providing direct lending and other investments in private, middle-market companies in the United States. Ares Capital’s goal is to seek out and invest in high quality borrowers who need capital to achieve their business goals, often leading to economic growth and employment. Ares Capital believes that its loans and other investments in these companies can generate attractive levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, uses its extensive direct origination capabilities and historical borrower relationships to source and underwrite primarily senior secured loans, but also subordinated debt securities and equity investments. Ares Capital has elected to be regulated as a Business Development Company (“BDC”) and is the largest publicly traded BDC by market capitalization as of September 30, 2022. Ares Capital is externally managed by a subsidiary of Ares Management Corporation (NYSE: ARES), a leading publicly traded global alternative investment manager.


Statements included herein may constitute “forward-looking statements” that relate to future events or the future performance or financial condition of Ares Capital. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties, including the impact of rising interest rates in response to inflation, war in Russia and Ukraine and the ongoing COVID-19 pandemic, which have resulted in significant market volatility impacting Ares Capital’s business, Ares Capital’s portfolio companies, Ares Capital’s industry and the global economy. Actual results and conditions may differ materially from those in the forward-looking statements due to a number of factors, including those described from time to time in Ares Capital’s filings with the Securities and Exchange Commission. Ares Capital assumes no obligation to update any forward-looking statements made herein.

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Ares Capital Corporation

Carl G. Drake or John Stilmar


[email protected]



SOURCE: Ares Capital Corporation

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PUBLISHED: 11/07/2022 9:49 PM / DISK: 11/07/2022 9:49 PM


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