SEC Form 4 · accession 0001104659-15-063364
Ares Dynamic Credit Allocation Fund, Inc. · ARDC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Antony P Ressler
Other
Period of report
Aug 31, 2015
Accepted (ET)
Sep 2, 2015 · 9:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001515324
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF4,F5,F6 | Aug 31, 2015 | J | 168,935 | — | A | 287,157 | I | As Trustee of the Ressler/Gertz Family Foundation |
| Common StockF1,F2 | holding | — | — | — | 35,869 | D | ||
| Common StockF3 | holding | — | — | — | 55,234 | I | By TJ Capital Investors LLC | |
| Common StockF7 | holding | — | — | — | 5,121 | I | As custodian for child's UTMA account | |
| Common StockF8 | holding | — | — | — | 5,121 | I | As custodian for child's UTMA account |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Includes shares acquired under the Dividend Reinvestment Plan of Ares Dynamic Credit Allocation Fund, Inc.
- F2These shares are held by Antony P. Ressler's IRA and by Antony P. Ressler in a joint account.
- F3These shares were acquired as a result of pro rata in kind distributions made by Ares Investments Holdings LLC, Ares Investments LLC and Ares Partners Management Company LLC to their respective members for no additional consideration.
- F4Effective as of August 31, 2015, Ares Multi-Strategy Credit Fund, Inc. (the "Target Fund") was reorganized into Ares Dynamic Credit Allocation Fund, Inc. (the "Acquiring Fund," and such reorganization, the "Reorganization"). In the Reorganization, common stockholders of the Target Fund received shares of common stock of the Acquiring Fund in an amount equal to the aggregate net asset value of shares of the Target Fund's common stock as determined at the close of business on August 28, 2015, less the costs of the Reorganization (although cash was distributed for any fractional shares).
- F5As of August 28, 2015, the Target Fund reported a net asset value per share of $21.020937 and the Acquiring Fund reported a net asset value per share of $17.322984. The conversion ratio for the Target Fund's common shares was 1.21347090. In the Reorganization, Mr. Ressler received 168,934.5284 shares of common stock of the Acquiring Fund in exchange for his 139,216 shares of common stock of the Target Fund.
- F6Includes shares acquired under the Dividend Reinvestment Plan of Ares Dynamic Credit Allocation Fund, Inc.
- F7Includes shares acquired under the Dividend Reinvestment Plan of Ares Dynamic Credit Allocation Fund, Inc.
- F8Includes shares acquired under the Dividend Reinvestment Plan of Ares Dynamic Credit Allocation Fund, Inc.