RTTNews | Apr 6, 2021 10:53AM EDT

10:53 Tuesday, April 6, 2021 (RTTNews.com) - Shares of asset management company Ares Management Corporation (ARES) are down more than 7% Tuesday morning at $54.43.

The company today priced its previously announced public offering of 9.5 million Class A common stock, par value $0.01 per share, at $54.00 per share.

Ares has granted the underwriters of the offering an option to purchase up to 1.425 million additional shares.

The offering is expected to close on or about April 8, 2021.

ARES has been trading in the range of $29.62- $59.16 in the last one year.

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