Fifth Street Finance Corp. (FSC) said Thursday that it has priced a public offering of 13.5 million shares of its common stock at a public offering price of $10.85 per share for total gross proceeds of $146.475 million.
The closing of the offering is subject to customary closing conditions and the shares are expected to be delivered on or about April 15.
Fifth Street has also granted the underwriters an option to purchase up to 2.025 million additional shares of common stock.
Fifth Street plans 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.
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