Ares Management Prices Public Offering Of 2.65 Mln Shares At $134.75/shr

(RTTNews) - Ares Management Corp. (ARES) announced the pricing of its underwritten public offering of about 2.65 million shares of Class A common stock, par value $0.01 per share, of the company at a public offering price of $134.75 per share of Class A common stock.

In addition, Ares has granted to the underwriters of the Offering an option to purchase up to an additional 397,500 shares of Class A common stock at the public offering price, less underwriting discounts and commissions. The Offering is expected to close on or about June 14, 2024, subject to customary closing conditions.

Ares plans to use the net proceeds from the Offering for general corporate purposes, including repayment of debt, strategic acquisitions and to fund growth initiatives.