Ares Commercial Real Estate (ACRE) Announces Proposed 7M Share Common Offering
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Ares Commercial Real Estate Corporation Announces Launch of Offering of Common Stock
March 15, 2021 4:36 PM EDTNEW YORK--(BUSINESS WIRE)-- Ares Commercial Real Estate Corporation (the Company) (NYSE: ACRE), today announced the launch of an underwritten public offering of 7,000,000 shares of common stock. The Company expects to grant to the underwriters of the offering an option to purchase up to 1,050,000 additional shares of common stock.
The Company intends to use all of the net proceeds from the offering for general corporate purposes, including repaying indebtedness and investing in mortgage loans and other target assets and investments consistent with its investment strategies and investment guidelines and funding commitments on existing... More
