Fifth Street Finance to Raise $149.5 Million in Stock Offering

Fifth Street Finance (Nasdaq: FSC  ) today announced details of its public stock offering. Fifth Street will issue 14 million shares of its common stock, priced at $10.68 per share, raising approximately $149.5 million. The company intends to use proceeds from the stock offering to pay down existing debt.

Lead underwriters of Fifth Street's stock offering include MorganStanley, Barclays, Goldman Sachs, UBS Investment Bank, and Wells Fargo Securities. The underwriters have been granted an option to purchase as many as 2.1 million additional shares of Fifth Street stock. The offering is subject to standard closing conditions, and Fifth Street shares included in the offering are expected to be delivered on or around Dec. 7.

Fifth Street Finance Corp. is a specialty finance company that lends capital and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors.

link


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2139010, ~/Articles/ArticleHandler.aspx, 4/16/2014 7:01:04 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

TREND TRACKER: Get Rich When the Web Goes Dark

It's time to say "goodbye" to your Internet! One bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it the single largest business opportunity in the history of capitalism… The Economist is calling it "transformative"... but you'll probably just call it "how I made my millions." Big money is already on the move. Don't be too late to the party – find out the 1 stock to own when the Web goes dark.


Advertisement