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ARES CAPITAL CORPORATION

(ARCC)
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ARES CAPITAL CORP : Other Events, Financial Statements and Exhibits (form 8-K)

08/02/2021 | 05:02pm EDT

Item 8.01. 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 1,875,000shares 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.



                                       2

Item 9.01. 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

              Consent of Venable LLP (contained in the opinion filed as
  23.1      Exhibit 5.1 hereto)




                                       3

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 1 718 M - -
Net income 2021 1 254 M - -
Net Debt 2021 8 066 M - -
P/E ratio 2021 6,96x
Yield 2021 8,15%
Capitalization 8 873 M 8 873 M -
EV / Sales 2021 9,86x
EV / Sales 2022 9,80x
Nbr of Employees -
Free-Float 99,1%
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Mean consensus BUY
Number of Analysts 14
Last Close Price 19,90 $
Average target price 21,43 $
Spread / Average Target 7,68%
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Managers and Directors
R. Kipp deVeer Chief Executive Officer & Director
Mitchell S. Goldstein Co-President
Michael Lewis Smith Co-President
Penelope F. Roll Chief Financial Officer
Bennett Rosenthal Co-Chairman
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