NEW YORK - Ares Management Corporation (NYSE: NYSE:ARES), a global alternative investment manager, has launched a public offering of 2,650,000 shares of its Class A common stock. The offering includes an option for underwriters to purchase an additional 397,500 shares. The company plans to use the proceeds for general corporate activities, which may include debt repayment, strategic acquisitions, and funding growth initiatives.
Morgan Stanley (NYSE:MS), BofA Securities, J.P. Morgan, RBC Capital Markets, and Wells Fargo (NYSE:WFC) Securities are serving as joint bookrunning managers for the offering. The offering is being made through a preliminary prospectus supplement and accompanying prospectus, available on the SEC's website or directly from the managing banks.
This announcement follows Ares Management's recent performance report, which showed the firm managing approximately $428 billion in assets as of March 31, 2024. The company employs around 2,900 people across various global markets, including North America, Europe, Asia Pacific, and the Middle East.
The press release issued by Ares Management contains forward-looking statements regarding the company's expectations for future events and financial performance. These statements are based on current beliefs and assumptions and are subject to risks, uncertainties, and changes in circumstances that could affect the company's actual results.
The information disclosed in this news piece is based on a press release statement from Ares Management Corporation. The offering of securities is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.