Gladstone Capital Corporation Prices Common Stock Offering
October 26 2016 - 9:18AM
Gladstone Capital Corporation (NASDAQ:GLAD) (the “Company”) today
announced that it has entered into an agreement to sell 2,000,000
shares of its common stock at a public offering price of $7.98 per
share, raising approximately $16.0 million in gross proceeds and
approximately $15.1 million in net proceeds after payment of
underwriting discounts and commissions and estimated expenses of
the offering payable by the Company. The Company has also granted
the underwriters a 30-day option to purchase up to 300,000
additional shares of common stock on the same terms and conditions
solely to cover over-allotments, if any. The closing of the
transaction is subject to customary closing conditions and the
shares are expected to be delivered on October 31, 2016. Janney
Montgomery Scott LLC, D.A. Davidson & Co., Ladenburg
Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE MKT:LTS) and Wunderlich Securities,
Inc. are serving as the joint book-running managers for the
offering. J.J.B. Hilliard, W.L. Lyons, LLC, Maxim Group LLC and
National Securities Corporation are serving as co-managers for the
offering.
The Company intends to use the net proceeds from this offering
to repay existing indebtedness, to fund investments and for other
general corporate purposes.
Investors are advised to carefully consider the
investment objectives, risks and charges and expenses of the
Company before investing. The prospectus supplement, dated October
26, 2016, which will be filed with the Securities and Exchange
Commission, and the accompanying prospectus, dated March 29, 2016,
which has been filed with the Securities and Exchange Commission,
contain this and other information about the Company and should be
read carefully before investing.
The offering is being conducted as a public offering under the
Company's effective shelf registration statement filed with the
Securities and Exchange Commission (File No. 333-208637).
To obtain a copy of the prospectus supplement for this
offering, please contact: Janney Montgomery Scott LLC, 60 State
Street, Boston, MA 02109, Attention: Equity Capital Markets Group
or prospectus@janney.com.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
About Gladstone Capital Corporation: Gladstone
Capital Corporation is a publicly traded business development
company that invests in debt and equity securities consisting
primarily of secured first and second lien term loans to small and
medium sized businesses in the United States.
CONTACT: For further information: Gladstone Capital Corporation, 703-287-5893
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