BETHESDA, Md., Dec. 15, 2016 /PRNewswire/ -- American Capital,
Ltd. ("American Capital" or the "Company") (NASDAQ: ACAS) announced
that, based on a preliminary vote tally from its Annual Meeting of
Shareholders held earlier today, American Capital shareholders have
overwhelmingly approved the merger agreement providing for the
acquisition of American Capital by Ares Capital Corporation
(NASDAQ: ARCC) through a series of transactions. Shareholders also
approved each of the other matters on the meeting agenda including
an advisory vote on the making of certain payments to American
Capital's executive officers in connection with the merger
transactions and the reelection of each of the members of American
Capital's Board of Directors.
Holders of over 96% of the American Capital shares that voted on the merger transactions
cast their votes in favor, representing approximately 55% of
American Capital's outstanding common stock as of the record date
for the shareholder meeting. The final results will be available on
a Current Report on Form 8-K, to be filed by the Company.
Ares Capital has separately announced that its shareholders
provided the necessary approval for the merger transactions at a
special meeting of its shareholders, which was also held
today. As previously announced, the merger transactions are
expected to close as soon as the first week of January 2017, subject to certain consents and
customary closing conditions.
ADDITIONAL INFORMATION
Persons considering an
investment in American Capital should consider the investment
objectives, risks and charges and expenses of the Company carefully
before investing. Such information and other information about
the Company is available in the Company's annual report on Form
10-K, quarterly reports on Form 10-Q and in the prospectuses the
Company issues from time to time in connection with its offering of
securities. Such materials are filed with the Securities and
Exchange Commission ("SEC") and copies are available on the SEC's
website, www.sec.gov. Prospective investors should read such
materials carefully before investing. Performance data quoted above
represents past performance of American Capital. Past performance
does not guarantee future results and the investment return and
principal value of an investment in American Capital will likely
fluctuate. Consequently, an investor's shares, when sold, may
be worth more or less than their original cost. Additionally,
American Capital's current performance may be lower or higher than
the performance data quoted above.
This press release contains forward-looking statements.
Forward-looking statements are based on estimates, projections,
beliefs and assumptions of management of the Company at the time of
such statements and are not guarantees of future
performance. Forward-looking statements involve risks and
uncertainties in predicting future results and
conditions. Actual results could differ materially from those
projected in these forward-looking statements due to a variety of
factors, including, without limitation, the uncertainties
associated with the timing of transaction closings, changes in
interest rates, availability of transactions, changes in regional,
national or international economic conditions or changes in the
conditions of the industries in which American Capital has made
investments. Certain factors that could cause actual results
to differ materially from those contained in the forward-looking
statements are included in the "Risk Factors" section of the
Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2015 and the Company's subsequent periodic
filings. Copies are available on the SEC's website at
www.sec.gov. Forward-looking statements are made as of the
date of this press release, and are subject to change without
notice. We disclaim any obligation to update or revise any
forward-looking statements based on the occurrence of future
events, the receipt of new information, or otherwise.
CONTACT:
Investors - (301) 951-5917
Media - (301) 968-9400
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SOURCE American Capital, Ltd.