Golub Capital to sell shares at $15.58; proceeds fund loan investments

By Toni Weeks

San Diego, Oct. 16 - Golub Capital priced $40,508,000 of its common shares at $15.58 apiece, according to a 497 filing with the Securities and Exchange Commission.

The externally managed, closed-end non-diversified management investment company seeks to maximize total return in the form of current income and capital appreciation by investing in senior secured, one-stop mezzanine and second-lien loans as well as in equity securities of middle-market companies.

The portfolio management team includes Lawrence Golub and David Golub with the assistance of Gregory W. Cashman and Andrew H. Steuerman.

The company plans to sell 2.6 million shares. Underwriters Wells Fargo Securities and UBS Investment Bank have an over-allotment option of an additional 390,000 shares for further proceeds of $6,076,200.

Stockholder fees of 3.73%, which include a sales load of 3.02%, will apply to share purchases. Management fees will run 2.15%, with total annual expenses expected at 7.87%.

Chicago-based GC Advisors LLC is the investment adviser.

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