Reported Earlier, Ares Management Prices Offering Of 2.65M Class A Common Stock At $134.75/Share
Portfolio Pulse from Benzinga Newsdesk
Ares Management has priced an offering of 2.65 million Class A common stock at $134.75 per share. The underwriters have an option to purchase an additional 397,500 shares. The offering is expected to close around June 14, 2024, subject to customary conditions.
June 13, 2024 | 6:03 am
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Ares Management has announced a public offering of 2.65 million Class A common stock at $134.75 per share, with an option for underwriters to purchase an additional 397,500 shares. The offering is expected to close around June 14, 2024.
The issuance of new shares typically dilutes the value of existing shares, which can lead to a short-term decrease in stock price. The offering price of $134.75 per share sets a benchmark that may influence market perception.
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