By Devika Patel
Knoxville, Tenn., April 19 - American Capital Ltd. said it plans a registered direct offering of stock to raise $295 million.
The company will sell 58.3 million common shares at $5.06 per share; of the shares, 43,725,000 million shares will be sold to funds and accounts managed by Paulson & Co. Inc.
Settlement is expected April 22.
Proceeds will be used for general corporate purposes.
American Capital is a Bethesda, Md.-based private equity firm and global asset manager.
| Issuer: | American Capital Ltd.
|
| Issue: | Common stock
|
| Amount: | $294,998,000
|
| Shares: | 58.3 million
|
| Price: | $5.06
|
| Warrants: | No
|
| Investor: | Paulson & Co. Inc. (for $221,248,500)
|
| Pricing date: | April 19
|
| Settlement date: | April 22
|
| Stock symbol: | Nasdaq: ACAS
|
| Stock price: | $5.33 at close April 16
|
| Market capitalization: | $1.56 billion
|
© 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.
