Ares Commercial Real Estate Corporation Announces Pricing of Offering of Common Stock

Ares Commercial Real Estate Corporation (the “Company”) (NYSE: ACRE) today announced the pricing of a subscribed public offering of 7,000,000 common shares for estimated total gross proceeds of approximately $ 101.9 million.

The Company has also given subscribers the option to purchase up to 1,050,000 additional common shares for 30 days. The offering is expected to close on or about March 17, 2021, subject to customary closing conditions. The Company intends to use all of the net proceeds from the Offering for general corporate purposes, including repaying debts and investing in mortgage loans and other target assets, and investing in accordance with its investment strategies and guidelines, as well as funding commitments for existing mortgage loans.

Morgan Stanley, Wells Fargo Securities and BofA Securities are joint book-running managers for the offering, and JMP Securities, Keefe, Bruyette & Woods, A Stifel Company and Raymond James are co-managing the offering.

A registration statement on Form S-3 relating to these securities has been filed with the Securities and Exchange Commission and has been declared effective. The offer can only be made by means of a prospectus addendum and the associated prospectus. A copy of the final Supplement and the accompanying prospectus accompanying the Offering, if available, can be obtained free of charge from the Securities and Exchange Commission website at http://www.sec.gov or from Morgan Stanley & Co. LLC, Attention Prospectus Department, 180 Varick Street, 2nd floor, New York, NY 10014; Wells Fargo Securities, LLC Attention: Equity Consortium Department, 30 Hudson Yards, 500 West 33rd Street – 14th Floor, New York, NY 10001, or by calling 1-800-326-5897 or emailing cmclientsupport @ wellsfargo. com; or BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department or by email at [email protected]

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This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor does it constitute an offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or solicitation such sale is unlawful. Nothing in this press release constitutes an offer to sell or a solicitation of an offer to buy any securities in the Company or any mutual fund managed by the Company or its affiliates.

ABOUT ARES COMMERCIAL REAL ESTATE CORPORATION

Ares Commercial Real Estate Corporation is a specialty finance firm that primarily raises and invests in commercial real estate loans and related investments. Via its national platform for direct procurement, the company offers a wide range of flexible and reliable financing solutions for commercial property owners and operators. The company makes senior mortgage loans, as well as subordinated finance, mezzanine debt, and preferred equity with a focus on providing value-added finance for a variety of properties located in liquid markets in the United States. Ares Commercial Real Estate Corporation was selected and qualified to be taxed as a real estate mutual fund. It is managed externally by a subsidiary of Ares Management Corporation.

FORWARDING STATEMENTS
The statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which arise relate to future events or the future performance or financial condition of the company. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results could differ materially from those expressed in the forward-looking statements due to a number of factors including the return on current and future investments, the company’s mortgage loan prepayment and prepayment rates, the availability of investment opportunities, and the company’s ability to make additional investments complete outstanding investments, the availability of capital, the availability and cost of financing, market trends and conditions in the industry and the general economy of the company, the level of credit and credit spreads and interest rates, commercial real estate loan volumes, the impact of COVID 19 pandemic and the impact of the pandemic on the US and the global economy, the company’s ability to pay future dividends at historical levels or at all, and the risks inherent in the securities from time to time Company’s official records are described and Exchange Commission (the “SEC”), including, but not limited to, those in Part I, Item 1A. Risk Factors in the Company’s Annual Report on Form 10-K, filed with the SEC on February 18, 2021. All forward-looking statements, including those contained herein, speak only as of the date of this press release and Ares Commercial Real Estate Corporation assumes no obligation to update the forward-looking statements contained herein. Projections and forward-looking statements are based on management’s good faith and reasonable assumptions, including the assumptions described herein.

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contacts

INVESTOR RELATIONS
Ares Commercial Real Estate Corporation
Carl Drake or Veronica Mendiola Mayer
(888) 818-5298
[email protected]