Fifth Street Finance Corp. Raises $131.8 Million in Gross Proceeds in Connection With Public Offering of Common Stock

By GlobeNewswire,  July 15, 2014, 01:38:00 PM EDT


GREENWICH, CT, July 15, 2014 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (NASDAQ:FSC) ("FSC") today announced that it has closed a public offering of 13,250,000 shares of its common stock at a public offering price of $9.95 per share for total gross proceeds of approximately $131.8 million. FSC 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.

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

About Fifth Street Finance Corp.

Fifth Street Finance Corp. is a leading specialty finance company that provides custom-tailored financing solutions to mid-sized companies, primarily in connection with investments by private equity sponsors. The company originates and invests in one-stop financings, first lien, second lien, mezzanine debt and equity co-investments. FSC'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 company has elected to be regulated as a business development company and is externally managed by Fifth Street Management LLC, an SEC-registered investment adviser and leading alternative asset manager with $5 billion in assets under management. With a track record of more than 16 years, the firm's nationally recognized platform has the ability to hold loans up to $150 million, commit up to $250 million and structure and syndicate transactions up to $500 million. Fifth Street Management LLC received the 2014 ACG New York Champion's Award for "Senior Lender Firm of the Year" and was named both 2013 "Lender Firm of the Year" by The M&A Advisor and "Lender of the Year" by Mergers & Acquisitions. FSC's website can be found at fsc.fifthstreetfinance.com. Information contained on its website is not incorporated by reference into this press release, and such information should not be considered part of this press release.

Forward-Looking Statements

This press release contains certain forward-looking statements, including statements with regard to the future performance of Fifth Street Finance Corp. Words such as "believes," "intends," "expects," "plans," "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 FSC's filings with the Securities and Exchange Commission. FSC undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Investor Contact:
         Dean Choksi,
         Executive Director of Finance & Head of Investor Relations
         Fifth Street Finance Corp.
         (203) 681-3722
         dchoksi@fifthstreetfinance.com

         Media Contact:
         Nick RustProsek Partners
         (212) 279-3115 ext. 252
         pro-fifthstreet@prosek.com

Source: Fifth Street Finance Corp.

This article appears in: News Headlines

Referenced Stocks: FSC


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