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Press Release - Fifth Street Finance Corp. (FSC-NYSE) |
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There are more opportunities for us today than ever before! There is a void in middle market private equity sponsor backed lending of at least $7 to $10 billion in size. I think that the void will increase as middle market Mergers and Acquisitions activities continue to accelerate into next year. We will gain substantial market share as we continue to ramp our origination effort... - Leonard M. Tannenbaum (FSC) (Interview published January 1, 2010) |
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Fifth Street Finance Corp. Raises $105.8 Million in Gross Proceeds in Connection With Public Offering of Common Stock WHITE PLAINS, N.Y., June 21, 2010 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (NYSE:FSC) ("Fifth Street") today announced that it has completed a public offering of 9,200,000 shares of common stock at a price of $11.50 per share, raising approximately $105.8 million in gross proceeds. The 9,200,000 shares of common stock include the over-allotment option granted to the underwriters, which was exercised in full. All shares were offered by Fifth Street. Wells Fargo Securities, Morgan Stanley, UBS Investment Bank and RBC Capital Markets served as joint book-running managers for the offering. FBR Capital Markets, ING, Janney Montgomery Scott LLC and Gilford Securities Incorporated acted as co-managers. Fifth Street intends to use substantially all of the net proceeds from the offering to make investments in small and mid-sized companies in accordance with Fifth Street's investment objective and strategies described in the prospectus supplement and accompanying prospectus and for general corporate purposes, including working capital requirements. Fifth Street may also use a portion of the net proceeds from the offering to repay its outstanding borrowings under its three-year credit facility with Wells Fargo Bank, N.A. About Fifth Street Finance Corp. Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with investments by private equity sponsors. Fifth Street Finance Corp.'s investment objective is to maximize its portfolio's total return by generating current income from its debt investments and capital appreciation from its equity investments. The Fifth Street Finance Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5525 Forward-Looking Statements This press release may contain certain forward-looking statements, including statements with regard to the future performance of Fifth Street. Words such as "believes," "expects," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and these factors are identified from time to time in Fifth Street's filings with the Securities and Exchange Commission. Fifth Street undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. CONTACT: Fifth Street Finance Corp.
Stacey Thorne, Executive Director, Investor Relations
(914) 286-6811
stacey@fifthstreetcap.com
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