Ares Capital Corporation held a special meeting where shareholders authorized the board to sell or issue common stock at a price below the company's then-current net asset value per share, subject to limits. The authorization limits any such issuance to no more than 25% of outstanding common shares and is effective for a 12-month period expiring on August 8, 2026. The record date for voting showed 694,181,754 shares outstanding.
The inspector certified the vote: among all holders, 286,084,869 voted for, 63,903,043 against and 11,635,163 abstained. Excluding affiliated persons, the for vote was 279,483,225. The approval gives the board short-term flexibility to issue up to a capped amount of shares below NAV; it was adopted with clear but not unanimous support.