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Fidus Investment Prices 2.5 Mln Stock Offering at 2% Discount to Closing Price

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Fidus Investment ( FDUS ) shares are trading lower on Friday after the company announced that it has priced a public offering of 2.5 million shares of common stock in an underwritten public offering.

The price was set at $15.27 per share -- a 2% discount from its closing price on Thursday -- and net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the company, are expected to be approximately $38.1 million.

The proceeds will be used to make investments in lower middle-market companies, to make repayments to its credit facility, for working capital, and to take advantage of the increase in allowable borrowing capacity under the Small Business Investment Company debenture program.

Shares last traded at $15.06, near the high of its 52-week range of $7.49 to $16.72.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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