Ares Management Announces Launch of Offering of Class A Common Stock
12 Juin 2024 - 10:26PM
Business Wire
Ares Management Corporation (NYSE: ARES) (“Ares” or the
“Company”) today announced the launch of an underwritten public
offering (the “Offering”) of 2,650,000 shares of Class A common
stock, par value $0.01 per share (“Class A common stock”), of the
Company. Ares expects to grant to the underwriters of the offering
an option to purchase up to 397,500 additional shares of Class A
common stock. Ares intends to use the net proceeds from the
offering for general corporate purposes, including repayment of
debt, strategic acquisitions and to fund growth initiatives.
Morgan Stanley, BofA Securities, J.P. Morgan, RBC Capital
Markets and Wells Fargo Securities are acting as joint bookrunning
managers for the Offering.
A registration statement on Form S-3 relating to these
securities has been filed with the Securities and Exchange
Commission (the “SEC”) and has become effective. The Offering may
be made only by means of a preliminary prospectus supplement and
accompanying prospectus. A copy of the preliminary prospectus
supplement and accompanying prospectus related to the Offering can
be obtained for free by visiting the SEC’s website at
http://www.sec.gov or by contacting Morgan Stanley, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor does it
constitute an offer, solicitation or sale of these securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful. Nothing in this press release constitutes an offer to
sell or solicitation of an offer to buy any securities of Ares or
an investment fund managed by Ares or its affiliates.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global
alternative investment manager offering clients complementary
primary and secondary investment solutions across the credit, real
estate, private equity and infrastructure asset classes. We seek to
provide flexible capital to support businesses and create value for
our stakeholders and within our communities. By collaborating
across our investment groups, we aim to generate consistent and
attractive investment returns throughout market cycles. As of March
31, 2024, Ares Management Corporation’s global platform had
approximately $428 billion of assets under management, with
approximately 2,900 employees operating across North America,
Europe, Asia Pacific and the Middle East.
Forward-Looking Statements
Statements included herein contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which reflect our current views with respect to, among
other things, future events, operations and financial performance.
You can identify these forward-looking statements by the use of
forward-looking words such as “outlook,” “believes,” “expects,”
“potential,” “continues,” “may,” “will,” “should,” “seeks,”
“predicts,” “intends,” “plans,” “estimates,” “anticipates,”
“foresees” or negative versions of those words, other comparable
words or other statements that do not relate to historical or
factual matters. The forward-looking statements are based on our
beliefs, assumptions and expectations of our future performance,
taking into account all information currently available to us. Such
forward-looking statements are subject to various risks and
uncertainties and assumptions relating to our operations, financial
results, financial condition, business prospects, growth strategy
and liquidity. Actual results may vary materially from those
indicated in these forward-looking statements as a result of a
number of factors, including those described from time to time in
our filings with the SEC. Ares does not undertake any obligation to
publicly update or review any forward-looking statement, whether as
a result of new information, future developments or otherwise,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240612285229/en/
Investors: Greg Mason or Carl Drake
irares@aresmgmt.com +1-888-818-5298
Ares Management (NYSE:ARES)
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