NEW YORK--(BUSINESS WIRE)--
Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced its
public offering of 22,500,000 shares of its common stock. Ares Capital
has granted the underwriters an option to purchase up to an additional
3,375,000 shares of common stock. The offering is subject to customary
closing conditions and is expected to close on August 22, 2012. The
offering of the shares is being made under Ares Capital’s shelf
registration statement, which was filed with, and declared effective by,
the Securities and Exchange Commission. On August 16, 2012, the last
reported sales price of Ares Capital’s Common Stock on The NASDAQ Global
Select Market under the symbol “ARCC” was $17.42 per share.
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.
Investors are advised to carefully consider the investment objective,
risks, charges and expenses of Ares Capital before investing. The
preliminary prospectus supplement dated August 16, 2012 and the
accompanying prospectus dated August 16, 2012, 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.
BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities are acting
as joint book-running managers for this offering. Goldman, Sachs & Co.,
J.P. Morgan and UBS Investment Bank are acting as joint lead managers
and RBC Capital Markets and Stifel Nicolaus Weisel are acting as
co-managers for this offering.
The 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 state where such offer and sale is not permitted.
The offering may be made only by means of a preliminary prospectus
supplement and an accompanying prospectus, copies of which may be
obtained from BofA Merrill Lynch, 222 Broadway, 7th
Floor, New York, NY 10038, Attn: Prospectus Department, or e-mail [email protected];
Morgan Stanley & Co. LLC, 180 Varick Street, 2nd
Floor, New York, NY, 10014, Attn: Prospectus Department, or e-mail [email protected];
or Wells Fargo Securities, 375 Park Avenue, New York, NY 10152, Attn:
Equity Syndicate Prospectus Department, or e-mail [email protected].
ABOUT ARES CAPITAL CORPORATION
Ares Capital is a leading specialty finance company that provides
one-stop financing solutions to U.S. middle market companies and private
equity sponsors. The Company originates and invests in senior secured
loans, mezzanine debt and, to a lesser extent, equity investments
through its national direct origination platform. Ares Capital’s
investment objective is to generate both current income and capital
appreciation through debt and equity investments primarily in private
companies. Ares Capital has elected to be regulated as a business
development company, and is externally managed by a wholly owned
subsidiary of Ares Management LLC. Ares Management is a global
alternative asset manager and a SEC-registered investment adviser with
approximately $54 billion of committed capital under management as of
June 30, 2012.
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute “forward-looking statements,”
which relate to future events or our future performance or financial
condition. These statements are not guarantees of future performance,
condition or results and involve a number of risks and uncertainties.
Actual results may differ materially from those in the forward-looking
statements as a result of a number of factors, including those described
from time to time in our filings with the Securities and Exchange
Commission. Ares Capital undertakes no duty to update any
forward-looking statements made herein.
Ares Capital Corporation
Carl Drake, 404-814-5204
Source: Ares Capital Corporation
