Capitala Finance Corp. Announces Pricing of 3,500,000 Shares of Common Stock
April 08 2015 - 9:04AM
Capitala Finance Corp. (the "Company") (Nasdaq:CPTA) today
announced that it has priced an underwritten offering of 3,500,000
shares of its common stock at a public offering price of $18.32 per
share for total gross proceeds of approximately $64.1 million. The
closing of the offering is subject to customary closing conditions
and is expected to take place on April 13, 2015. In connection with
the offering, the Company has granted the underwriters for the
offering an option to purchase up to an additional 525,000 shares
of the Company's common stock.
UBS Securities LLC, Jefferies LLC, Keefe, Bruyette & Woods,
Inc., and BB&T Capital Markets, a division of BB&T
Securities, LLC, are acting as joint book-running managers for the
offering. JMP Securities LLC, Oppenheimer & Co. Inc.,
Wunderlich Securities, Inc., Stephens Inc., Ladenburg Thalmann
& Co. Inc., a subsidiary of Ladenburg Thalmann Financial
Services Inc. (NYSE MKT:LTS), and Sandler O'Neill & Partners,
L.P. are acting as co-managers for the offering.
The Company intends to use the net proceeds from this offering
to make new investments in portfolio companies in accordance with
its investment objective and strategies and for general working
capital purposes. The Company will also use a portion of the net
proceeds from this offering to repay indebtedness (which will be
subject to re-borrowing), to pay operating expenses, including
advisory and administrative fees and expenses, and may pay other
expenses such as due diligence expenses of potential new
investments.
Investors are advised to carefully consider the
investment objectives, risks and charges and expenses of the
Company before investing. The preliminary prospectus supplement,
dated April 7, 2015, and accompanying base prospectus, dated
November 26, 2014, each of which has been filed with the Securities
and Exchange Commission, contain a description of these matters and
other important information about the Company and
should be read carefully before investing.
A shelf registration statement relating to these
securities is on file with and has been declared effective by the
Securities and Exchange Commission. The offering may be made only
by means of a final prospectus supplement and an
accompanying base prospectus, copies of which may be
obtained, when available, from any of the
following investment banks: UBS Securities LLC, Attn: Prospectus
Department, 299 Park Avenue, New York, New York 10171, or by
calling (888) 827-7275; Jefferies LLC, Attn: Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, New York 10022, by calling
(877) 547-6340, or by emailing
prospectus_department@jefferies.com;
Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, Fourth
Floor, New York, New York 10019, Attn: Capital Markets (telephone:
1-800-966-1559); or BB&T Capital Markets, a
division of BB&T Securities, LLC, Attn: Prospectus Group, 901
East Byrd Street, 3rd Floor, Richmond, Virginia 23219, or by
emailing
prospectusrequests@bbandtcm.com.
This press release does not constitute an offer to sell or a
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.
About Capitala Finance Corp.
Capitala Finance Corp. is a business development company that
invests primarily in traditional mezzanine, senior subordinated and
unitranche debt, as well as senior and second-lien loans and, to
lesser extent, equity securities issued by lower and traditional
middle-market companies. The Company is managed by Capitala
Investment Advisors, LLC.
Forward-Looking Statements
This press release contains certain forward-looking statements,
including statements with regard to the Company's securities
offering and the anticipated use of the net proceeds of the
offering. Words such as "believes," "intends," "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 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 the
Company, including, without limitation, market conditions, failure
of customary closing conditions and the risk factors and other
matters set forth in the Company's preliminary prospectus
supplement dated April 7, 2015. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by law.
CONTACT: Capitala Finance Corp.
Stephen Arnall, Chief Financial Officer
704-376-5502
sarnall@capitalagroup.com
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