- Ares Capital Corporation (NASDAQ:ARCC) has priced a public offering of 8M shares of its common stock.
- The underwriters may offer the shares of common stock from time to time for sale in one or more transactions on The NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
- Underwriters' over-allotment is an additional 1.2M shares of common stock.
- The offering is expected to close on August 2, 2022.
- Net proceeds will be used to repay certain outstanding indebtedness under its credit facilities.
- The company may reborrow under its credit facilities for general corporate purposes, which include investing in portfolio companies in accordance with its investment objective.
- Stock dips 4% PM.