FX.co ★ Ares Management Prices Public Offering Of 2.65 Mln Shares At $134.75/shr

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

Additionally, Ares has granted the Offering's underwriters an option to purchase up to an additional 397,500 shares of Class A common stock at the public offering price, minus underwriting discounts and commissions. The Offering is anticipated to close around June 14, 2024, contingent upon customary closing conditions.

The net proceeds from this Offering are slated for general corporate purposes, including debt repayment, strategic acquisitions, and funding of growth initiatives.