Fifth Street Finance Prices Public Offering Of 15.5 Mln. Common Shares

(RTTNews) - Fifth Street Finance Corp. (FSC) said Thursday it has priced a public offering of 15.5 million shares of its common stock at a public offering price of $10.31 per share for total gross proceeds of $159.8 million. All shares are being offered by Fifth Street.

Morgan Stanley, Wells Fargo Securities, Goldman, Sachs & Co., J.P. Morgan, Barclays and Deutsche Bank Securities are acting as lead book-running managers for the offering.

The closing of the offering is subject to customary closing conditions and the shares are expected to be delivered on or about September 26.

Fifth Street has also granted the underwriters an option to purchase up to an additional 2.33 million shares of common stock.

Fifth Street intends to use the net proceeds from the offering to repay debt outstanding under its credit facilities. However, through re-borrowing under its credit facilities, it intends to make investments in small and mid-sized companies.