Fifth Street Finance Prices Public Offering Of 13.25 Mln Shares At $9.95/shr

(RTTNews) - Fifth Street Finance Corp.(FSC) said Friday that it priced a public offering of 13.25 million shares of its common stock at a public offering price of $9.95 per share for total gross proceeds of $131.84 million. All shares are being offered by the company.

Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities and RBC Capital Markets will act as lead book-running managers, and SMBC Nikko will act as joint lead manager for the offering.

The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on or about July 15, 2014.

FSC has also granted the underwriters an option to purchase up to an additional 1.99 million shares of common stock.

FSC noted that it intends 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 in accordance with its investment objective and strategies described in the prospectus supplement and accompanying prospectus and may use such funds for general corporate purposes.