Senior Management Purchases $7.6 Million of Common Stock in Fifth Street Senior Floating Rate Corp.
December 16 2014 - 4:30PM
Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) ("FSFR")
announced today that eight members of the senior management teams
of FSFR and its affiliate Fifth Street Asset Management Inc.
(NASDAQ:FSAM) ("FSAM") purchased FSFR's common shares in the open
market following last Wednesday's release of the Company's
financial results for the quarter and fiscal year ended September
30, 2014.
Senior management owns 5.4% of FSFR common shares, including
Leonard Tannenbaum, Chief Executive Officer of FSAM, who purchased
728,363 shares of FSFR since last Thursday.
"As a management team, we are very excited about the future of
FSFR and the opportunities available in the senior secured loan
market. Furthering the alignment with our shareholders, members of
the senior management teams of FSFR and FSAM collectively purchased
$7.6 million of common stock since last Thursday. We look forward
to continuing to execute on our plan to drive value for
shareholders," stated FSFR's Chief Executive Officer, Ivelin M.
Dimitrov.
The share purchases made were not part of a Company repurchase
program and were direct cash purchases made by the individuals and
not guaranteed by the Company.
About Fifth Street Senior Floating Rate Corp.
Fifth Street Senior Floating Rate Corp. is a specialty finance
company that provides financing solutions in the form of floating
rate senior secured loans to mid-sized companies, primarily in
connection with investments by private equity sponsors. FSFR's
investment objective is to maximize its portfolio's total return by
generating current income from its debt investments while seeking
to preserve its capital. The company has elected to be regulated as
a business development company and is externally managed by a
subsidiary of Fifth Street Asset Management Inc. (NASDAQ:FSAM), a
rapidly growing credit-focused asset manager with over $6 billion
in assets under management across multiple public and private
vehicles. With a track record of more than 16 years, Fifth Street's
nationally recognized platform has the ability to hold loans up to
$250 million and structure and syndicate transactions up to $500
million. Fifth Street received the 2014 ACG New York
Champion's Award for "Senior Lender Firm of the Year" and was named
both 2013 "Lender Firm of the Year" by The M&A Advisor and
"Lender of the Year" by Mergers & Acquisitions. FSFR's website
can be found at fsfr.fifthstreetfinance.com.
Forward-Looking Statements
This press release may contain certain forward-looking
statements, including statements with regard to the future
performance of the company. Words such as "believes,"
"expects," "estimates," "projects," "anticipates," and "future" or
similar expressions are intended to identify forward-looking
statements. These forward-looking statements are subject to
the inherent uncertainties in predicting future results and
conditions. Certain factors could cause actual results to
differ materially from those projected in these forward-looking
statements, and these factors are identified from time to time in
the company's filings with the Securities and Exchange
Commission. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACT: Investor Contact:
Robyn Friedman, Vice President, Investor Relations
(203) 681-3720
ir@fifthstreetfinance.com
Media Contact:
Nick Rust
Prosek Partners
(212) 279-3115 ext. 252
pro-fifthstreet@prosek.com
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