Ares Management Corp | 7.00% Series A Preferred Units (ARES.PRA)
This preferred is marked as having been called.
Prospectus excerpt: At any time or from time to time on or after June 30, 2021, we may, at our option, redeem the Series A Preferred Units, in whole or in part, at a price of $25.00 per Series A Preferred Unit plus declared and unpaid distributions, if any. See "Description of the Series A Preferred Units?Optional Redemption." If a Change of Control Event (defined herein) occurs prior to June 30, 2021, we may, at our option, redeem the Series A Preferred Units, in whole but not in part, at a price of $25.25 per Series A Preferred Unit plus declared and unpaid distributions, if any. If (i) a Change of Control Event occurs (whether before, on or after June 30, 2021) and (ii) we do not give notice prior to the 31st day following the Change of Control Event to redeem all the outstanding Series A Preferred Units, the distribution rate per annum on the Series A Preferred Units will increase by 5.00%, beginning on the 31st day following such Change of Control Event. See "Description of the Series A Preferred Units?Change of Control Redemption." The Series A Preferred Units will rank equally with other series of our parity units, junior to our senior units and senior to our junior units (as such terms are defined herein) with respect to payment of distributions and distribution of our assets upon our liquidation, dissolution or winding up. See "Description of the Series A Preferred Units?Ranking." The Series A Preferred Units will not have any voting rights, except as set forth under "Description of the Series A Preferred Units?Voting Rights."
Full Prospectus PDF », Secondary Prospectus PDF », ARES Page »
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Ares Management is a holding company. Through its subsidiaries, Co. is an alternative investment manager. Co.'s complementary investment groups include: Credit, which provides solutions for investors seeking to access a range of credit assets, including liquid credit, alternative credit products and direct lending products; Private Equity, which categorizes its investment activities into two strategies, Corporate Private Equity and Special Opportunities; Real Estate, which manages public and private equity and debt strategies; Secondary Group, which invests in secondary markets across a range of alternative asset class strategies including private equity; and Strategic Initiatives. Preferred: ARES.PRA Open the ARES Information Page » |
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