Management investment firm to sell shares to fund corporate purposes
By Toni Weeks
San Diego, Aug. 23 - Solar Capital Ltd. priced a $45.02 million public offering of common stock on Thursday, according to a 497 filing with the Securities and Exchange Commission.
The closed-end, externally managed, non-diversified management investment company will sell 2 million shares at $22.51 apiece. The per-share price is a 2.0% discount to the closing share price of $22.97 on Aug. 22.
Proceeds will be used for general corporate purposes, including investments in portfolio companies and debt repayment.
Solar Capital is based in New York.
| Issuer: | Solar Capital Ltd.
|
| Issue: | Common stock
|
| Amount: | $45.02 million
|
| Shares: | 2 million
|
| Price: | $22.51
|
| Warrants: | No
|
| Pricing date: | Aug. 23
|
| Stock symbol: | Nasdaq: SLRC
|
| Stock price: | $22.97 at close Aug. 22
|
| Market capitalization: | $832.83 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
