Ares Commercial Real Estate raises ~$103.1M in 7M-share public offering

Ares Commercial Real Estate Corp

Underwriting agreement signed May 17, 2022 for 7,000,000 shares of common stock; underwriters granted 30-day option for 1,050,000 additional shares.
Offering closed May 20, 2022; net proceeds approximately $103.1 million after estimated expenses.
Joint book-running managers: Morgan Stanley, Wells Fargo Securities, Citigroup Global Markets, UBS Securities LLC.
Company agrees to 30-day lock-up on share issuances without underwriter consent, subject to exceptions.

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