WHITE PLAINS, N.Y., Sept. 18, 2013 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (Nasdaq:FSC) ("Fifth Street") today announced that it has commenced a public offering of 15,000,000 shares of its common stock. Fifth Street plans to grant the underwriters for the offering an option to purchase up to an additional 2,250,000 shares of common stock. All shares will be offered by Fifth Street. Morgan Stanley, Wells Fargo Securities, Goldman, Sachs & Co., J.P. Morgan, Barclays and Deutsche Bank Securities will act as lead book-running managers for the offering.
Fifth Street intends to use the net proceeds from this offering to repay debt outstanding under its credit facilities. However, through re-borrowing under its credit facilities, it intends 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 may use such funds for general corporate purposes.
The offering is being made pursuant to Fifth Street's existing effective shelf registration statement on Form N-2 previously filed with the Securities and Exchange Commission. The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which, when available, may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014 (Attn: Prospectus Department, tel: (866) 718-1649 or firstname.lastname@example.org); Wells Fargo Securities, LLC, 375 Park Avenue, New York, New York 10152 (Attn: Equity Syndicate Department, tel: (800) 326-5897 or email@example.com); Goldman, Sachs & Co., 200 West Street, New York, New York 10282 (Attn: Prospectus Department, tel: (866) 471-2526 or firstname.lastname@example.org); J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (Attn: Prospectus Department or tel: (866) 803-9204); Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, New York 11717 (tel: (888) 603-5847 or email@example.com); and Deutsche Bank Securities Inc., 60 Wall Street, New York, New York 10005 (Attn: Prospectus Group, tel: (800) 503-4611 or firstname.lastname@example.org). Investors are advised to carefully consider the investment objective, risks, charges and expenses of Fifth Street before investing. The prospectus supplement and accompanying prospectus contain a description of these matters and other important information about Fifth Street and should be read carefully before investing.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of the shares referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
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, primarily 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 contains certain forward-looking statements, including statements with regard to Fifth Street Finance Corp.'s securities offering and the anticipated use of the net proceeds of the offering. Words such as "believes," "intends," "expects," "plans," "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 and no assurance can be given that the securities offering discussed above will be consummated on the terms described or at all. Completion of the securities offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Fifth Street Finance Corp., including, without limitation, market conditions, changes in interest rates, failure of customary closing conditions and other matters set forth in Fifth Street Finance Corp.'s prospectus supplement and accompanying prospectus. 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.
CONTACT: Investor Contact: Dean Choksi, Senior Vice President of Finance & Head of Investor Relations Fifth Street Finance Corp. (914) 286-6855 email@example.com Media Contact: Nick Rust Prosek Partners (212) 279-3115 ext. 252 firstname.lastname@example.org
|Fifth Street Finance Corp. Prices Public Offering of Common Stock (2013/9/19)|
|Fifth Street Finance Corp. Prices Public Offering of $250 Million 4.875% Unsecured Notes Due 2019 (2014/2/14)|
|Oxford Lane Capital Corp. Commences Public Offering of Common Stock (2014/3/10)|
|Atlantic Coast Financial Corporation Commences Public Offering of Common Stock ()|
|TICC Commences Public Offering of Common Stock (2014/3/13)|
|Advanced Emissions Solutions Commences Public Offering of Common Stock (2013/11/14)|
|Medallion Financial Corp. Closes Public Offering of Common Stock ()|
|Five Oaks Investment Corp. Announces Public Offering of Common Stock (2014/2/18)|
|Fifth Street Finance Corp. Raises $181.9 Million in Gross Proceeds in Connection With Public Offering of Common Stock ()|
|Fifth Street Senior Floating Rate Corp. Raises $100 Million in Gross Proceeds in Connection With Initial Public Offering of Common Stock (2013/7/17)|
|Fifth Street Finance Corporation||View fsc Stock Quote|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.