Ares Management Amends OUTFRONT Media Stake Filing
Ticker: OUT · Form: SC 13D/A · Filed: Sep 27, 2024 · CIK: 1579877
Sentiment: neutral
Topics: amendment, shareholder-activity, filing-update
Related Tickers: OUT
TL;DR
Ares Management updated their OUTFRONT Media filing - watch for potential moves.
AI Summary
On September 27, 2024, Ares Management LLC, along with its group members, filed an amended Schedule 13D concerning their holdings in OUTFRONT Media Inc. The filing indicates a change in their beneficial ownership, though specific new dollar amounts or percentage changes were not detailed in this excerpt. The filing is an amendment to a previous submission, suggesting ongoing activity related to their investment in OUTFRONT Media Inc.
Why It Matters
This filing signals potential shifts in significant shareholder positions, which could influence OUTFRONT Media's stock performance and strategic direction.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, introducing uncertainty.
Key Players & Entities
- Ares Management LLC (company) — Filing entity
- OUTFRONT Media Inc. (company) — Subject company
- Ares Capital Corp (company) — Group member
- Ares Capital Management LLC (company) — Group member
- Ares Management Corp (company) — Group member
FAQ
What specific changes in beneficial ownership are detailed in this SC 13D/A filing for OUTFRONT Media Inc.?
This excerpt does not specify the exact changes in beneficial ownership or the new percentage of shares held by Ares Management LLC and its group members.
When was the previous filing or amendment made by Ares Management LLC regarding OUTFRONT Media Inc.?
The filing is an amendment (SC 13D/A), indicating a prior filing, but the date of the original filing is not provided in this excerpt.
What is the primary business of OUTFRONT Media Inc. according to the filing?
OUTFRONT Media Inc. is classified under Real Estate Investment Trusts (SIC code 6798).
Where is the principal executive office of OUTFRONT Media Inc. located?
The principal executive office of OUTFRONT Media Inc. is located at 90 Park Avenue, 9th Floor, New York, NY 10016.
Who are the listed group members filing this SC 13D/A along with Ares Management LLC?
The listed group members include Ares Capital Corp, Ares Capital Management LLC, Ares Holdco LLC, Ares Management Corp, Ares Management GP LLC, Ares Management Holdings L.P., Ares Partners Holdco LLC, Ares Voting LLC, ASOF Holdings I, L.P., and ASOF Investment Management LLC.
Filing Stats: 2,335 words · 9 min read · ~8 pages · Grade level 7.9 · Accepted 2024-09-27 16:30:03
Key Financial Figures
- $0.01 — INC. (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securiti
- $1,076.40 — in a private transaction at a price of $1,076.40 per share. Item 5. Interest in Securit
Filing Documents
- tm2425089d1_sc13da.htm (SC 13D/A) — 145KB
- 0001104659-24-103735.txt ( ) — 147KB
Identity and Background
Item 2. Identity and Background
(b) of the Schedule 13D is hereby amended and replaced
Item 2(b) of the Schedule 13D is hereby amended and replaced in its entirety with the following: (b) The address of the principal office of each of the Reporting Persons (other than Ares Capital), the Board Members (as defined below) and the other individuals set forth in Schedule A of this Schedule 13D (such other individuals, together with the Board Members, the “Managers”) is c/o Ares Management LLC, 1800 Avenue of the Stars, Suite 1400, Los Angeles, CA 90067. The address of the principal office of Ares Capital is 245 Park Avenue, 44th Floor, New York, New York 10167.
Purpose of Transaction
Item 4. Purpose of Transaction
of the Schedule 13D is hereby amended and supplemented with
Item 4 of the Schedule 13D is hereby amended and supplemented with the following: Preferred Stock Sale On September 25, 2024, Ares Capital and ASOF sold 25,000 and 100,000 shares, respectively, of Series A Preferred Stock in a private transaction at a price of $1,076.40 per share.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer. Item 5 (a) – (e) of the Schedule 13D is hereby amended and replaced in its entirety with the following: (a) – (b) This Amendment No. 2 is being filed to report that, as of the date hereof, the Reporting Persons do not beneficially own any shares of Common Stock. (c) During the past 60 days, the Reporting Persons have not effected any transactions with respect to the Common Stock, other than as described in Item 4. (d) None. (e) As of September 25, 2024, the Reporting Persons ceased to be the beneficial owners of more than five percent of the outstanding shares of Common Stock.
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: September 27, 2024 Ares Capital corporation /s/ Joshua Bloomstein By: Joshua Bloomstein Its: Authorized Signatory Ares Capital Management llc /s/ Joshua Bloomstein By : Joshua Bloomstein Its : Authorized Signatory ASOF Holdings I, L.P. By: ASOF Investment Management LLC Its: Manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory ASOF Investment Management LLC /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory ARES MANAGEMENT LLC /s/ Anton Feingold By: Anton Feingold Its: Authorized Signatory ARES MANAGEMENT HOLDINGS L.P. By: ARES HOLDCO LLC Its: General Partner /s/ Anton Feingold By: Anton Feingold Its: Authorized Signatory ARES HOLDCO LLC /s/ Anton Feingold By: Anton Feingold Its: Authorized Signatory ARES MANAGEMENT CORPORATION /s/ Anton Feingold By: Anton Feingold Its: Authorized Signatory ARES MANAGEMENT GP LLC /s/ Anton Feingold By: Anton Feingold Its: Authorized Signatory ARES VOTING LLC By: ARES PARTNERS HOLDCO LLC Its: Sole Member /s/ Anton Feingold By: Anton Feingold Its: Authorized Signatory ARES PARTNERS HOLDCO LLC /s/ Anton Feingold By: Anton Feingold Its: Authorized Signatory