Ares Commercial Real Estate (ACRE) Prices 7M Share Offering at $14.96/sh
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Ares Commercial Real Estate Corporation Announces Pricing of Offering of Common Stock
May 17, 2022 10:05 PM EDTNEW YORK--(BUSINESS WIRE)-- Ares Commercial Real Estate Corporation (the Company) (NYSE: ACRE) announced today the pricing of an underwritten public offering of 7,000,000 shares of common stock for total estimated gross proceeds of approximately $104.7 million. The Company has also granted 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... More
