UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events.
On May 28, 2021, Ares Management Corporation (the “Company”) issued a notice of redemption with respect to all 12,400,000 outstanding shares of its 7.00% Series A Preferred Stock (“Series A Preferred Stock”) (CUSIP No. 03990B 200). The shares of Series A Preferred Stock will be redeemed on June 30, 2021 (the “Redemption Date”) at a redemption price of $25.00 per share (the “Redemption Price”), and will not include any accrued dividends because the Redemption Date is also a dividend payment date. The Company will pay the previously announced dividend of $0.4375 per share on the Series A Preferred Stock on June 30, 2021. Dividends on the shares of Series A Preferred Stock will cease to accrue on the Redemption Date, such shares shall no longer be deemed outstanding and all rights of the holders of such shares will terminate, except the right to receive payment of the Redemption Price and the previously announced dividend. Because the shares of Series A Preferred Stock will be redeemed in full, trading of the shares of Series A Preferred Stock on the New York Stock Exchange (NYSE: ARES.PRA) will cease after the Redemption Date.
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 MANAGEMENT CORPORATION | ||
Dated: May 28, 2021 | ||
By: | /s/ Naseem Sagati Aghili | |
Name: | Naseem Sagati Aghili | |
Title: | General Counsel and Secretary |