Analyst Research

Report Title Price
Provider: MacroRisk Analytics/EconomicInvestor
Provider: Ford Investor Services, Inc.
Provider: Ratings
Provider: Zacks Investment Research Inc.

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Pennantpark Floating Rate Capital Ltd Prices Public Offering

Tuesday, 16 Jul 2013 09:21am EDT 

Pennantpark Floating Rate Capital Ltd announced that it has entered into an agreement to sell 4,400,000 shares of common stock at a public offering price of $14.20 per share, raising approximately $62,480,000 in gross proceeds. Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Keefe, Bruyette & Woods, Inc. are acting as joint bookrunning underwriters. Janney Montgomery Scott LLC and JMP Securities LLC are acting as lead managers. Ladenburg Thalmann & Co. Inc. and Maxim Group LLC are acting as co-managers. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on July 19, 2013. The Company also has granted the underwriters an option to purchase up to an additional 660,000 shares of common stock to cover over-allotments, if any. The Company expects to use the net proceeds to reduce outstanding obligations under its credit facility, to invest in new or existing portfolio companies or for general corporate or strategic purposes. 

Company Quote

0.16 +1.18%
19 Dec 2014