ARES CAPITAL CORP: Material Agreement Entered & Terminated on Feb 7

TL;DR

**ARCC entered and terminated a material agreement on Feb 7, signaling active portfolio management.**

AI Summary

ARES CAPITAL CORPORATION filed an 8-K on February 7, 2024, indicating an entry into and termination of a material definitive agreement. This filing, while not detailing the specifics of the agreement, signals that the company is actively managing its financial contracts. For investors, this matters because material agreements can significantly impact the company's financial health and future operations, and their termination or entry suggests strategic shifts.

Why It Matters

This filing indicates active management of significant financial agreements, which can impact ARES CAPITAL CORPORATION's financial flexibility and strategic direction. Investors should monitor for further details on these agreements to understand potential impacts on earnings or operations.

Risk Assessment

Risk Level: medium — The filing mentions both entry into and termination of a material definitive agreement without specific details, creating uncertainty about the nature and impact of these events.

Analyst Insight

Investors should look for subsequent filings or press releases from ARES CAPITAL CORPORATION that provide more details on the material definitive agreement, as the current 8-K lacks specifics to assess its impact.

Key Players & Entities

• ARES CAPITAL CORPORATION (company) — the registrant filing the 8-K
• February 7, 2024 (date) — date of earliest event reported
• NASDAQ Global Select Market (company) — exchange where ARCC common stock is registered

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common stock, $0.001 par value ARCC NASDAQ Global Select
• $1,000,000,000 — ng an aggregate offering price of up to $1,000,000,000, through the Sales Agents, or to them a

Filing Documents

• tm245311d3_8k.htm (8-K) — 31KB
• tm245311d3_ex5-1.htm (EX-5.1) — 26KB
• tm245311d3_ex10-1.htm (EX-10.1) — 231KB
• tm245311d3_ex10-2.htm (EX-10.2) — 247KB
• tm245311d3_ex10-3.htm (EX-10.3) — 238KB
• tm245311d3_ex10-4.htm (EX-10.4) — 239KB
• tm245311d3_ex10-5.htm (EX-10.5) — 242KB
• tm245311d3_8kimg001.jpg (GRAPHIC) — 4KB
• 0001104659-24-011654.txt ( ) — 1709KB
• arcc-20240207.xsd (EX-101.SCH) — 3KB
• arcc-20240207_lab.xml (EX-101.LAB) — 33KB
• arcc-20240207_pre.xml (EX-101.PRE) — 22KB
• tm245311d3_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On February 7, 2024, Ares Capital Corporation (the "Company"), its investment adviser, Ares Capital Management LLC ("Ares Capital Management") and its administrator, Ares Operations LLC ("Ares Operations") entered into separate equity distribution agreements, with each of Truist Securities, Inc. ("Truist"), Jefferies LLC ("Jefferies"), Mizuho Securities USA LLC ("Mizuho"), RBC Capital Markets, LLC ("RBC") and Regions Securities LLC ("Regions," and together with Truist, Jefferies, Mizuho and RBC, the "Sales Agents"). The equity distribution agreements with the Sales Agents described in the preceding sentences are collectively referred to herein as the "Equity Distribution Agreements." The Equity Distribution Agreements provide that the Company may from time to time issue and sell shares of its common stock, par value $0.001 per share ("Shares"), having an aggregate offering price of up to $1,000,000,000, through the Sales Agents, or to them as principal for their own respective accounts. The sales of Shares, if any, may be made in negotiated transactions or transactions that are deemed to be "at the market," as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including sales made directly on The NASDAQ Global Select Market or similar securities exchange or sales made to or through a market maker other than on an exchange, at prices related to the prevailing market prices or at negotiated prices. The Sales Agents will receive a commission from the Company of up to 1.5% of the gross sales price of any Shares sold through the Sales Agents under the Equity Distribution Agreements. Although the Company has filed with the Securities and Exchange Commission a prospectus supplement, dated as of February 7, 2024, pursuant to which the Company may issue and sell Shares having an aggregate offering price of up to $1,000,000,000 (the "Prospectus Supplement"), the Company has no obligation to sell an

02 Termination of a Material Definitive Agreement

Item 1.02 Termination of a Material Definitive Agreement. Effective as of February 7, 2024, the Company and each of Truist, Jefferies, Mizuho and Regions terminated the following agreements, which have been superseded by the Equity Distribution Agreements: (i) the Equity Distribution Agreement, dated as of April 25, 2023, by and among the Company, Ares Capital Management, Ares Operations and Truist, (ii) the Equity Distribution Agreement, dated as of April 25, 2023, by and among the Company, Ares Capital Management, Ares Operations and Regions, (iii) the Equity Distribution Agreement, dated as of July 25, 2023, by and among the Company, Ares Capital Management, Ares Operations and Jefferies, and (iv) the Equity Distribution Agreement, dated as of July 25, 2023, by and among the Company, Ares Capital Management, Ares Operations and Mizuho in accordance with their respective terms.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 5.1 Opinion of Venable LLP, dated February 7, 2024 10.1 Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Truist Securities, Inc. 10.2 Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Jefferies LLC 10.3 Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Mizuho Securities USA LLC 10.4 Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and RBC Capital Markets, LLC 10.5 Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Regions Securities LLC 23.1 Consent of Venable LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ARES CAPITAL CORPORATION Date: February 7, 2024 By: /s/ Penni F. Roll Name: Penni F. Roll Title: Chief Financial Officer