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Ares Capital Corporation

08/02/2021 | Press release | Distributed by Public on 08/02/2021 15:46

Purchase Agreement (Form 8-K)

Other Events.

On August 2, 2021, Ares Capital Corporation (the 'Company') issued 12,500,000 shares (the 'Shares') of the Company's common stock, par value $0.01 per share, pursuant to a Purchase Agreement, dated July 28, 2021 (the 'Purchase Agreement'), among the Company, Ares Capital Management LLC, Ares Operations LLC and Morgan Stanley & Co. LLC, BofA Securities, Inc. and Wells Fargo Securities LLC, as representatives of the several underwriters named on Schedule A thereto (collectively, the 'Underwriters'). In addition, under the terms of the Purchase Agreement, the Company granted the Underwriters an option to purchase an additional 1,875,000 shares of Common Stock, exercisable for 30 days from the date of the Purchase Agreement.

The Shares were purchased by the Underwriters from the Company at a price of $19.6667 per share, resulting in net proceeds to the Company of approximately $245.4 million, after deducting discounts and commissions and estimated offering expenses.

The Shares were offered and sold pursuant to the Registration Statement on Form N-2 (File No. 333-256733) and a prospectus supplement and accompanying prospectus, dated July 28, 2021, filed with the Securities and Exchange Commission.

The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, filed as Exhibit 1.1 hereto and incorporated by reference herein.

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Financial Statements and Exhibits.

(d) Exhibits:

Exhibit
Number

Description

1.1 Purchase Agreement, dated as of July 28, 2021, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Morgan Stanley & Co. LLC, BofA Securities, Inc. and Wells Fargo Securities LLC, as representatives of the several underwriters named on Schedule A thereto
5.1 Opinion of Venable LLP
23.1 Consent of Venable LLP (contained in the opinion filed as Exhibit 5.1 hereto)

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