Gladstone Capital Corporation Prices Common Stock Offering
October 27 2015 - 9:27AM
Gladstone Capital Corporation (NASDAQ:GLAD) (the "Company") today
announced that it has entered into an agreement to sell 2,000,000
shares of its common stock at a public offering price of $8.55 per
share, raising $17.1 million in gross proceeds and $16.0
million in net proceeds after payment of underwriting
discounts and commissions and estimated expenses of the offering
payable by the Company. The Company has also granted the
underwriters a 30-day option to purchase up to 300,000 additional
shares of common stock on the same terms and conditions solely to
cover over-allotments, if any. The closing of the transaction is
subject to customary closing conditions and the shares are expected
to be delivered on October 30, 2015. Janney Montgomery Scott LLC,
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE MKT:LTS), and Wunderlich
Securities, Inc. are serving as the joint book-running managers for
the offering. Maxim Group LLC, J.J.B. Hilliard, W.L. Lyons, LLC and
National Securities Corporation are serving as co-managers.
The Company intends to use the net proceeds from this offering
to repay existing indebtedness and for other general corporate
purposes.
Investors are advised to carefully consider the
investment objectives, risks and charges and expenses of the
Company before investing. The prospectus supplement, dated October
27, 2015, which will be filed with the Securities and Exchange
Commission, and the accompanying prospectus, dated January 30,
2015, which has been filed with the Securities and Exchange
Commission, contain this and other information about the Company
and should be read carefully before investing.
The offering is being conducted as a public offering under the
Company's effective shelf registration statement filed with the
Securities and Exchange Commission (File No. 333-185191).
To obtain a copy of the prospectus supplement for this
offering, please contact: Janney Montgomery Scott LLC, 60 State
Street, Boston, MA 02109, Attention: Equity Capital Markets Group
or prospectus@janney.com.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
About Gladstone Capital Corporation: Gladstone
Capital Corporation is a publicly traded business development
company that invests in debt and equity securities consisting
primarily of secured first and second lien term loans in small and
medium sized businesses in the United States. Information on the
business activities of all the Gladstone funds can be found at
www.gladstonecompanies.com.
CONTACT: For further information:
Gladstone Capital Corporation, 703-287-5893
Ladenburg Thalmann Finan... (AMEX:LTS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ladenburg Thalmann Finan... (AMEX:LTS)
Historical Stock Chart
From Apr 2023 to Apr 2024