Ares Capital Corporation (ARCC: Quote) said Wednesday that it has closed its public offering of 25,875,000 shares which raised about $427.4 million in net proceeds.
The offering includes 3,375,000 shares pursuant to the exercise in full by the underwriters of their option to purchase additional shares.
Ares Capital said that it expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities and for general corporate purposes, which may include investing in portfolio companies in accordance with its investment objective.
BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities acted as joint book-running managers for this offering.
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by RTT Staff Writer
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