Fifth Street Finance Corp. Raises $145.5 Million in Gross Proceeds in Connection With Public Offering of Common Stock
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WHITE PLAINS, N.Y., Feb. 4, 2011 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. ("Fifth Street") today announced that it has closed its public offering of 11,500,000 shares of common stock at a price of $12.65 per share, raising approximately $145.5 million in gross proceeds. The 11,500,000 shares of common stock include the over-allotment option granted to the underwriters, which was exercised in full. All shares were offered by Fifth Street. Wells Fargo Securities, Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities and RBC Capital Markets served as joint book-running managers for the offering. Stifel Nicolaus Weisel acted as lead manager and Gilford Securities Incorporated, FBR Capital Markets and ING acted as co-managers for the offering.
Fifth Street intends to use the net proceeds from this offering to make investments in small and mid-sized companies in accordance with its investment objective and strategies described in the prospectus supplement and accompanying prospectus and for general corporate purposes. Fifth Street may also use a portion of the net proceeds from this offering to repay its outstanding indebtedness.
About Fifth Street Finance Corp.
Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with investments by private equity sponsors. Fifth Street Finance Corp.'s investment objective is to maximize its portfolio's total return by generating current income from its debt investments and capital appreciation from its equity investments.
This press release may contain certain forward-looking statements, including statements with regard to the future performance of Fifth Street Finance Corp. Words such as "believes," "expects," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and these factors are identified from time to time in Fifth Street Finance Corp.'s filings with the Securities and Exchange Commission. Fifth Street Finance Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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