Ares Capital Corp. (ARCC) announced that it has priced its public offering of 16.65 million shares of its common stock. The company said that it has granted the underwriters an option to purchase up to an additional 2.50 million shares of common stock.
The offering is subject to customary closing conditions and is expected to close on April 8, 2013.
On April 2, 2013, the official close price of Ares Capital's common stock on The NASDAQ Global Select Market under the symbol "ARCC" was $18.02 per share.
The company noted that it expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities and, to the extent not used for such purpose, for general corporate purposes, which may include investing in portfolio companies in accordance with its investment objective.
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