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Ares Commercial Real Estate Corporation (“Company”) (NYSE stock code:acre), today announced the start of an underwriting public offering of 6,500,000 ordinary shares. The company expects to grant the underwriters of this offering the option to purchase up to 975,000 additional common shares.
The company intends to use all the net proceeds from this issuance for general corporate purposes, including investing in mortgage loans and other target assets and investments that meet its investment strategy and investment criteria, capital commitments for existing mortgage loans, and debt repayment.
Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, and BofA Securities, Inc. are the joint bookrunners for this offering, and JMP Securities LLC, Keefe, Bruyette & Woods, Inc. and Raymond James & Associates, Inc. are joint The bookkeeper-product manager.
The Form S-3 registration statement related to these securities has been submitted to the US Securities and Exchange Commission and has been declared effective. The issuance can only be carried out through the preliminary prospectus supplement and the accompanying prospectus.The supplement to the preliminary prospectus related to this offering and a copy of the accompanying prospectus can be obtained free of charge by visiting the website of the U.S. Securities and Exchange Commission http://www.sec.gov Or contact: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Wells Fargo Securities, LLC, please note: Equity Syndicate Department, 30 Hudson Yards, 500 West 33rd Street-14th Floor, New York, NY 10001 or…
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