Apollo Investment Corp.(AINV) announced it has priced a public offering of 19.0 million shares of its common stock at a public offering price of $8.60 per share for total gross proceeds of $163.4 million.
The closing of the offering is subject to customary closing conditions and is expected to take place on May 20, 2013.
In connection with the offering, the company has granted the underwriters for the offering a 30-day option to purchase up to an additional 2.85 million shares of common stock.
The company said it expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its credit facility.
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