<SEC-DOCUMENT>0001104659-23-003557.txt : 20230113
<SEC-HEADER>0001104659-23-003557.hdr.sgml : 20230113
<ACCEPTANCE-DATETIME>20230113060137
ACCESSION NUMBER:		0001104659-23-003557
CONFORMED SUBMISSION TYPE:	497AD
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230113
DATE AS OF CHANGE:		20230113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARES CAPITAL CORP
		CENTRAL INDEX KEY:			0001287750
		IRS NUMBER:				331089684
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497AD
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-256733
		FILM NUMBER:		23527072

	BUSINESS ADDRESS:	
		STREET 1:		245 PARK AVENUE, 44TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10167
		BUSINESS PHONE:		2127507300

	MAIL ADDRESS:	
		STREET 1:		245 PARK AVENUE, 44TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10167
</SEC-HEADER>
<DOCUMENT>
<TYPE>497AD
<SEQUENCE>1
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<DESCRIPTION>497AD
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Filed pursuant to Rule 497(a)</B></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Registration No. 333-256733</B></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Rule
482a</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm233240d6_497adimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARES CAPITAL CORPORATION PRICES PUBLIC OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY&mdash; January 12, 2023&mdash;Ares Capital
Corporation (Nasdaq: ARCC) announced that it has priced a public offering of 10,500,000 shares of its common stock.&nbsp; The
offering was upsized from its previously announced offering size of 9,000,000 shares. Ares Capital has granted the underwriters an
option to purchase up to an additional 1,575,000 shares of common stock.&nbsp; The offering is subject to customary closing
conditions and is expected to close on January 18, 2023. The offering of the shares is being made under Ares Capital&rsquo;s shelf
registration statement filed with the Securities and Exchange Commission on June 3, 2021, which became effective automatically upon
filing. On January 12, 2023, the official close price of Ares Capital&rsquo;s common stock on The NASDAQ Global Select Market under
the symbol &ldquo;ARCC&rdquo; was $19.61 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Morgan Stanley &amp; Co. LLC, BofA Securities, UBS Investment Bank,
RBC Capital Markets, LLC and Wells Fargo Securities are acting as joint lead book-running managers for this offering. Keefe Bruyette &amp;
Woods, <I>A Stifel Company</I>, and Raymond James &amp; Associates, Inc. are acting as joint book-running managers for this offering.
Goldman Sachs &amp; Co. LLC, Janney Montgomery Scott LLC, J.P. Morgan, Oppenheimer &amp; Co. Inc., Academy Securities, Inc., Compass Point
Research &amp; Trading, LLC, Loop Capital Markets LLC, Samuel A. Ramirez &amp; Company, Inc., R. Seelaus &amp; Co., LLC and Siebert Williams
Shank &amp; Co., LLC are acting as co-managers for this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The underwriters may offer the shares of common stock from time to
time for sale in one or more transactions on The NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions
or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ares Capital expects to use the net proceeds of this offering to repay
certain outstanding indebtedness under its credit facilities. Ares Capital may reborrow under its credit facilities for general corporate
purposes, which include investing in portfolio companies in accordance with its investment objective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investors are advised to carefully consider the investment objective,
risks, charges and expenses of Ares Capital before investing. The preliminary prospectus supplement dated January 12, 2023 and the accompanying
prospectus dated June 3, 2021, which have been filed with the Securities and Exchange Commission, contain this and other information about
Ares Capital and should be read carefully before investing.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The information in the preliminary prospectus supplement, the accompanying
prospectus and this press release is not complete and may be changed.&nbsp; The preliminary prospectus supplement, the accompanying prospectus
and this press release are not offers to sell any securities of Ares Capital and are not soliciting an offer to buy such securities in
any jurisdiction where such offer and sale is not permitted</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The offering may be made only by means of a preliminary prospectus
supplement and an accompanying prospectus. Copies of the preliminary prospectus supplement (and accompanying prospectus) may be obtained
from Morgan Stanley&nbsp;&amp; Co. LLC, 180 Varick Street, 2nd&nbsp;Floor, New York, NY 10014, Attn: Prospectus Department; BofA Securities,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or email dg.prospectus_requests@bofa.com;
UBS Securities LLC at 1285 Avenue of the Americas, New York, New York, 10019, Attn: Prospectus Department, by telephone at (888) 827-7275,
or by email: ol-prospectus-request@ubs.com; RBC Capital Markets, LLC at 200 Vesey Street, 8th Floor, New York, New York, 10281, Attn:
Prospectus Department, or by telephone at (877) 822-4089; or Wells Fargo Securities at 500 West 33rd Street, New York, New York, 10001,
Attn: Equity Syndicate Department, by calling toll free 1-800-326-5897, or by e-mail at cmclientsupport@wellsfargo.com. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>About
Ares Capital Corporation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Founded in 2004, Ares Capital is a leading
specialty finance company focused on providing direct loans and other investments in private middle market companies in the United States.
Ares Capital&rsquo;s objective is to source and invest in high-quality borrowers that need capital to achieve their business goals, which
often leads to economic growth and employment. Ares Capital believes its loans and other investments in these companies can generate attractive
levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, utilizes its
extensive, direct origination capabilities and incumbent borrower relationships to source and underwrite predominantly senior secured
loans but also subordinated debt and equity investments. Ares Capital has elected to be regulated as a business development company (&ldquo;BDC&rdquo;)
and is the largest publicly traded BDC by market capitalization as of December 31, 2022. Ares Capital is externally managed by a subsidiary
of Ares Management Corporation (NYSE: ARES), a publicly traded, leading global alternative investment manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Statements included herein may constitute
 &ldquo;forward-looking statements,&rdquo; which relate to future events or Ares Capital&rsquo;s future performance or financial condition.
These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual
results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including
those described from time to time in Ares Capital&rsquo;s filings with the Securities and Exchange Commission. Ares Capital undertakes
no duty to update any forward-looking statements made herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #0D0D0D"><B>INVESTOR RELATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Ares Capital Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carl G. Drake or John Stilmar<BR>
888-818-5298</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>irarcc@aresmgmt.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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