Bookrunner JMP Securities helps raise proceeds for corporate purposes
By Devika Patel
Knoxville, Tenn., Oct. 9 – KCAP Financial, Inc. priced a $24.06 million public sale of stock with a $3.61 million greenshoe, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission. The deal was announced on Oct. 6.
The company will sell 3 million common shares at $8.02 per share. The price per share is a 0.13% premium to the Oct. 8 closing share price of $8.01.
JMP Securities LLC is the bookrunning manager.
Settlement is expected on Oct. 10.
Proceeds will be used for general corporate purposes.
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: | $24.06 million
|
| Greenshoe: | $3,609,000
|
| Shares: | 3 million
|
| Price: | $8.02
|
| Warrants: | No
|
| Bookrunner: | JMP Securities LLC
|
| Announcement date: | Oct. 6
|
| Pricing date: | Oct. 9
|
| Settlement date: | Oct. 10
|
| Stock symbol: | Nasdaq: KCAP
|
| Stock price: | $8.01 at close Oct. 8
|
| Market capitalization: | $259.35 million
|
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