What is the primary purpose of this 8-K filing?

This 8-K filing is primarily to disclose a material definitive agreement, specifically an Underwriting Agreement, related to the sale of Ares Management, L.P.'s common units.

How many common units are being offered and what is the potential size of the offering?

The offering is for 7,500,000 common units, with an underwriters' option to purchase up to an additional 1,125,000 common units, bringing the potential total offering size to 8,625,000 units.

Under what regulatory framework is this offering being conducted?

The offering is being conducted under a shelf registration statement on Form S-3, filed on February 27, 2017, and a prospectus supplement dated March 2, 2017.

What does the Underwriting Agreement typically entail?

The Underwriting Agreement typically outlines the terms and conditions of the offering, including representations and warranties from the issuer and selling unitholder, conditions that must be met for the sale to close, indemnification provisions for both parties, and conditions under which the agreement can be terminated.

ARES/ARES-PB 8-K: Material Agreements

Summary

Ares Management, L.P. filed an 8-K on March 6, 2017, to report a material definitive agreement related to a significant equity offering. The company, along with its general partner and several holding entities, entered into an Underwriting Agreement on March 2, 2017, with Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, acting as underwriters. This agreement facilitates the sale of 7,500,000 common units of Ares Management, L.P., with an option for underwriters to purchase an additional 1,125,000 units. The offering, expected to close on March 7, 2017, was made under a previously filed shelf registration statement and a prospectus supplement. This event represents a capital-raising initiative for Ares Management, L.P. Investors should note that the sale of a substantial number of units could impact existing shareholders through dilution. The filing also details standard provisions within the underwriting agreement, including representations, warranties, conditions to closing, indemnification, and termination clauses. The transaction underscores the company's active engagement in managing its capital structure and potentially funding growth initiatives.

Key Highlights

1Ares Management, L.P. entered into an Underwriting Agreement on March 2, 2017, to sell 7,500,000 Common Units.
2The underwriters have an option to purchase an additional 1,125,000 Common Units, potentially increasing the total offering size.
3The offering is being conducted through Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as underwriters.
4The sale of common units is made under a shelf registration statement (Form S-3) filed on February 27, 2017, and a prospectus supplement dated March 2, 2017.
5The offering was expected to close on March 7, 2017.
6The Underwriting Agreement includes customary provisions such as representations, warranties, conditions to closing, indemnification, and termination rights.
7This 8-K filing serves to disclose the material definitive agreement related to this significant equity offering.

Ares Management Corp 8-K Report, Material Agreement (Mar 6, 2017)

Summary

Key Highlights

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