ARES 8-K
Ares Management Corp (ARES)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events.
As previously disclosed, Ares Management Corporation (the “Company”), Ares Holdings L.P. and Ares Holdco LLC entered into an underwriting agreement (the “Underwriting Agreement”) dated June 12, 2024 with Morgan Stanley & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC, as the representatives of the underwriters (the “Underwriters”), pursuant to which the Company granted the Underwriters an option to purchase up to an additional 397,500 shares of its Class A common stock, par value $0.01 per share (the “Class A common stock”).
On July 11, 2024, the Company sold 397,500 shares of its Class A common stock to the Underwriters pursuant to the Underwriters’ exercise in full of such option to purchase additional shares. The Company raised approximately $52.92 million in net proceeds (after deducting underwriting discounts and commissions but before offering expenses) from the sale of these additional shares of its Class A common stock, which brought the total net proceeds of the offering to approximately $408.21 million (after deducting underwriting discounts and commissions but before offering expenses).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ARES MANAGEMENT CORPORATION | ||
| Dated: July 11, 2024 | ||
| By: | /s/ Jarrod Phillips | |
| Name: | Jarrod Phillips | |
| Title: |
Chief Financial Officer (Principal Financial & Accounting Officer) |