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Fifth Street Finance Corp Prices Public Offering Of Common Stock


Thursday, 11 Apr 2013 08:53am EDT 

Fifth Street Finance Corp announced that it priced a public offering of 13,500,000 shares of common stock at a public offering price of $10.85 per share for total gross proceeds of $146,475,000. All shares are being offered by Fifth Street. Morgan Stanley, Barclays, Deutsche Bank Securities, Goldman, Sachs & Co. and Wells Fargo Securities are acting as lead book-running managers for the offering, Keefe, Bruyette & Woods, Raymond James, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers for the offering and JMP Securities, SMBC Nikko, Sterne Agee, Maxim Group LLC and Wunderlich Securities are acting as co-managers for the offering. The closing of the offering is subject to customary closing conditions and the shares are expected to be delivered on or about April 15, 2013. Fifth Street has also granted the underwriters an option to purchase up to 2,025,000 additional shares of common stock. Fifth Street intends to use the net proceeds from this offering to repay debt outstanding under credit facilities. However, through re-borrowing under credit facilities, it intends to make investments in small and mid-sized companies in accordance with investment objective and strategies described in the prospectus supplement and accompanying prospectus and for general corporate purposes. 

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