January 23, 2012 9:00 AM ET
WHITE PLAINS, N.Y., Jan. 23, 2012 (GLOBE NEWSWIRE) -- Fifth
Street Finance Corp. (Nasdaq:FSC) ("Fifth Street")
today announced that it priced a public offering of
10,000,000 shares of its common stock. All shares are being
offered by Fifth Street. Credit Suisse and RBC Capital
Markets are acting as joint book-running managers for the
offering. On January 20, 2012, the last reported sales price
of Fifth Street's common stock on The NASDAQ Global
Select Market was $10.56 per share.
The closing of the transaction is subject to customary
closing conditions and the shares are expected to be
delivered on or about January 26, 2012. Fifth Street has also
granted the underwriters an option to purchase up to an
additional 1,500,000 shares of common stock to cover
over-allotments, if any.
Fifth Street intends to use substantially all of the net
proceeds from this offering to make investments in small and
mid-sized companies in accordance with its investment
objective and strategies described in the prospectus
supplement and accompanying prospectus and for general
corporate purposes. Fifth Street may also use a portion of
the net proceeds from this offering to repay its outstanding
indebtedness.
The offering is being made pursuant to Fifth Street's
existing effective shelf registration statement on Form N-2
previously filed with the Securities and Exchange Commission.
The offering will be made only by means of a prospectus
supplement and accompanying prospectus, copies of which, when
available, may be obtained from: Credit Suisse Prospectus
Department, One Madison Avenue, New York, NY 10010; tel:
1-800-221-1037; email:
newyork.prospectus@credit-suisse.com; and RBC
Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York,
NY 10281 (Attn: Prospectus Department or (877) 822-
4089). Investors are advised to carefully consider the
investment objective, risks and charges and expenses of Fifth
Street before investing. The prospectus supplement and
accompanying prospectus contain a description of these
matters and other important information about Fifth Street
and should be read carefully before investing.
This press release does not constitute an offer to sell or
the solicitation of an offer to buy nor will there be any
sale of the shares referred to in this press release in any
state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction.
Fifth Street Finance Corp. is a specialty finance company
that lends to and invests in small and mid-sized companies,
primarily 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
This press release contains certain forward-looking
statements, including statements with regard to Fifth Street
Finance Corp.'s securities offering and the anticipated
use of the net proceeds of the offering. Words such as
"believes," "expects,"
"projects," "anticipates," and
"future" or similar expressions are intended to
identify forward-looking statements. These forwar-dlooking
statements are subject to the inherent uncertainties in
predicting future results and conditions and no assurance can
be given that
the securities offering discussed above will be consummated
on the terms described or at all. Completion of the
securities offering and the terms thereof are subject to
numerous factors, many of which are beyond the control of
Fifth Street Finance Corp., including, without limitation,
market conditions, changes in interest rates, failure of
customary closing conditions and other matters set forth in
Fifth Street Finance Corp.'s prospectus supplement and
accompanying prospectus. Fifth Street Finance Corp.
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new
information,
future events or otherwise.
Investor Contact:
Stacey Thorne, Executive Director, Investor Relations
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Fifth Street Finance Corp. (914) 286-6811 stacey@fifthstreetfinance.com
Media Contact: Brendan McManus CJP Communications
(203) 254-1300 ext. 216
CJP-FifthStreet@CJPCom.com
Image: company logo
Fifth Street Finance Corp.
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