other material
confidence high
sentiment neutral
materiality 0.50
Ares Capital enters up to $1B ATM equity distribution agreements; terminates prior deals
ARES CAPITAL CORP
- New equity distribution agreements with Truist, Jefferies, Mizuho, RBC, and Regions effective July 30, 2024.
- Company may sell up to $1,000,000,000 of common stock via 'at the market' offerings on NASDAQ.
- Sales agents receive up to 1.5% commission on gross proceeds from shares sold.
- Prior equity distribution agreements dated February 7, 2024 terminated and superseded.
- No obligation to sell; actual sales depend on market conditions and capital needs.