Ares Commercial Real Estate (ACRE) Launches 7M Share Public Offering

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Go back to Ares Commercial Real Estate (ACRE) Launches 7M Share Public Offering

Ares Commercial Real Estate Corporation Announces Launch of Offering of Common Stock

May 17, 2022 4:32 PM EDT

NEW YORK--(BUSINESS WIRE)-- Ares Commercial Real Estate Corporation (the Company) (NYSE: ACRE) announced today 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 (i) investing in mortgage loans and other target assets and investments consistent with its investment strategies and investment guidelines (ii) funding commitments on existing mortgage loans and... More