Bookrunners Barclays and Stifel Nicolaus help fund corporate purposes
By Toni Weeks
San Luis Obispo, Calif., Feb. 5 - KCAP Financial, Inc. priced a $46.31 million public offering of stock with a $6.6 million greenshoe, according to a press release.
The company is selling 4.75 million shares at $9.75 each, a 3.85% discount to the closing share price of $10.14 on Feb. 4.
Barclays and Stifel, Nicolaus & Co., Inc. are joint bookrunners for the offering.
Settlement is expected Feb. 8.
Proceeds will be used for general corporate purposes, which include investing in portfolio companies and collateralized loan obligation funds.
New York-based KCAP is an internally managed business-development company that invests in a portfolio of term loans, mezzanine investments and selected equity securities of middle-market companies.
| Issuer: | KCAP Financial, Inc.
|
| Issue: | Common stock
|
| Amount: | $46,312,500
|
| Greenshoe: | $6,654,375
|
| Shares: | 4.75 million
|
| Price: | $9.75
|
| Warrants: | No
|
| Bookrunners: | Barclays and Stifel, Nicolaus & Co., Inc.
|
| Co-lead managers: | JMP Securities LLC and Janney Montgomery Scott LLC
|
| Co-managers: | Ladenburg Thalmann & Co. Inc. and Wunderlich Securities, Inc.
|
| Announcement date: | Feb. 4
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 8
|
| Stock symbol: | Nasdaq: KCAP
|
| Stock price: | $10.14 at close Feb. 4
|
| Market capitalization: | $263.98 million
|
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