Offering includes stock sold at 2.09% discount to Nov. 19 share price
By Devika Patel
Knoxville, Tenn., Nov. 22 - Solar Capital Ltd. said it negotiated a private placement of stock.
The company will sell 1,915,000 common shares at $22.94 per share for $43.93 million. Of the shares, 115,000 will be bought by company management. The price per share reflects a 2.09% discount to the Nov. 19 closing share price of $23.44.
Solar Capital is a New York-based closed-end investment company that invests primarily in leveraged, middle-market companies in the form of senior secured loans, mezzanine loans and equity securities.
| Issuer: | Solar Capital Ltd.
|
| Issue: | Common stock
|
| Amount: | $43,930,100
|
| Shares: | 1,915,000
|
| Price: | $22.94
|
| Warrants: | No
|
| Settlement date: | Nov. 22
|
| Stock symbol: | Nasdaq: SLRC
|
| Stock price: | $23.44 at close Nov. 19
|
| Market capitalization: | $777.85 million
|
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