04:46 PM EDT, 06/12/2024 (MT Newswires) -- Ares Management ( ARES ) unveiled late Wednesday an offering of 2.65 million shares of its Class A common stock.

The company expects to grant underwriters an option to purchase up to 397,500 additional shares.

Ares intends to use the net proceeds for general corporate purposes, including debt repayment, acquisitions and growth initiatives.

Shares of the company fell 1.8% in after-hours activity.

Price: 135.00, Change: -2.49, Percent Change: -1.81