Ares Capital Corporation Prices Public Offering.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Ares Capital Corporation (Nasdaq: ARCC ARCC Anoka Ramsey Community College ARCC Association for the Rights of Catholics in the Church ARCC Architectural Research Centers Consortium ARCC African Regional Centre for Computing ARCC AIM Research Conference Center ) announced that it has entered into an agreement to sell 2,300,000 shares of common stock at a public offering price of $16.30 per share, raising approximately $37,490,000 in gross proceeds. Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , Pierce, Fenner & Smith Incorporated is acting as the underwriter. "As discussed on our recent quarterly earnings call, we believe the current credit market dislocation dislocation, displacement of a body part, usually a bone. When a bone is dislocated, the ends of opposing bones are usually forced out of connection with one another. In the process, bruising of tissues and tearing of ligaments may occur. has created significant opportunity for Ares Capital Corporation. We believe that this additional capital will provide us with increased flexibility to make investments at very attractive risk-adjusted returns Risk-Adjusted Return A measure of how much risk a fund or portfolio takes on to earn its returns, usually expressed as a number or a rating. Notes: This is often represented by the Sharpe Ratio. The more return per unit of risk, the better. ," said President, Michael Arougheti. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on August 28, 2007. Ares Capital Corporation has also granted the underwriter an option to purchase up to an additional 345,000 shares of common stock to cover over-allotments, if any. The Company expects to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to repay outstanding indebtedness and for other general corporate purposes. Investors are advised to carefully consider the investment objective, risks and charges and expenses of Ares Capital Corporation before investing. The prospectus supplement dated August 22, 2007 and the accompanying prospectus dated March 26, 2007, which have been filed with the Securities and Exchange Commission, contain this and other information about Ares Capital Corporation and should be read carefully before investing. This press release does not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor will there be any sale of the shares referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities was filed and has been declared effective by the Securities and Exchange Commission. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, 250 Vesey Street, New York, NY 10080. ABOUT ARES CAPITAL CORPORATION Ares Capital Corporation is a specialty finance company that is a closed-end, non-diversified management investment company regulated as a business development company under the Investment Company Act of 1940. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. Ares Capital Corporation invests primarily in first and second lien A Second lien financing is a form of financing secured on a second ranking basis by (more or less) the same security, which secures the first ranking financing. The first lien lenders and the second lien lenders agree that, in the event of a security enforcement or bankruptcy, the senior loans and mezzanine mez·za·nine n. 1. A partial story between two main stories of a building. 2. The lowest balcony in a theater or the first few rows of that balcony. debt, which in some cases includes an equity component, and, to a lesser extent, in equity investments in private middle market companies. FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 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, including the prospectus supplement dated August 22, 2007 and the accompanying prospectus dated March 26, 2007. Ares Capital Corporation undertakes no duty to update any forward-looking statements made herein. AVAILABLE INFORMATION Ares Capital Corporation's filings with the Securities and Exchange Commission, press releases, earnings releases and other financial information are available on the Internet at www.arescapitalcorp.com. |
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