NEW YORK, May 16, 2017 /PRNewswire/ -- Alcentra
Capital Corporation (Nasdaq GSM: ABDC) (the "Company") announced
today that it has commenced an underwritten primary offering of
808,161 shares of its common stock and a concurrent underwritten
secondary offering of 1,691,839 shares of its common stock on
behalf of Alcentra NY, LLC, the Company's investment adviser, and
another selling stockholder. In connection with the proposed
offering, the Company intends to grant the underwriters for the
offering an option to purchase up to an additional 375,000 shares
of the Company's common stock.
The Company will not receive any proceeds from the sale of
shares of common stock sold in the secondary offering. The Company
intends to use the net proceeds from the sale of shares of common
stock to repay outstanding debt borrowed under its credit facility.
However, through re-borrowing of the initial repayments under the
credit facility, the Company intends to use the net proceeds from
this offering to make investments in accordance with its investment
objective and strategies, to pay operating expenses and other cash
obligations, and for general corporate purposes.
Raymond James & Associates,
Inc. and Keefe, Bruyette & Woods, A Stifel Company are
acting as joint book-running managers for this offering. D.A.
Davidson & Co. is acting as lead manager. The shares will be
sold pursuant to an effective shelf registration statement on
Form N-2 that has been filed with, and has been declared
effective by, the Securities and Exchange Commission. The offering
is subject to customary closing conditions.
The offering will be made only by means of a prospectus
supplement and accompanying prospectus, copies of which, when
available, may be obtained from: Raymond
James, 880 Carillon Parkway, St.
Petersburg, Florida 33716; Keefe, Bruyette & Woods,
Inc., 787 Seventh Avenue, 4th Floor, New
York, NY 10019 (Attn: Capital Markets) or tel: (800)
966-1559; or D.A. Davidson &
Co., 8 Third Street North, Great Falls,
MT 59401, by telephone: 1-800-332-5915, or by email:
prospectusrequest@dadco.com. Investors are advised to carefully
consider the investment objective, risks, charges and expenses of
the Company before investing. The prospectus supplement and
accompanying prospectus contain a description of these matters and
other important information about the Company and should be read
carefully before investing.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy nor will there be any sale of the
shares referred to in this press release in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction.
About Alcentra Capital Corporation
Alcentra Capital Corporation ("Alcentra" or the "Company")
provides customized debt and equity financing solutions to lower
middle-market companies, which the Company generally defines as
U.S. based companies having revenues between $10.0 million and $250.0 million. Alcentra's
investment objective is to generate both current income and capital
appreciation primarily by making direct investments in lower
middle-market companies in the form of first lien, second lien,
unitranche and mezzanine debt financing (often times with a
corresponding equity investment). Alcentra seeks to partner with
business owners, management teams and financial sponsors by
providing customized financing for change of ownership
transactions, recapitalizations, strategic acquisitions, business
expansion and other growth initiatives.
Alcentra is an externally managed, closed-end, non-diversified
management investment company that has elected to be treated as a
business development company under the Investment Company Act of
1940, as amended. In addition, for tax purposes, Alcentra has
elected to be treated as a regulated investment company, or RIC,
under Subchapter M of the Internal Revenue Code of 1986, as
amended, or the Code.
About Alcentra NY, LLC
Alcentra NY, LLC is part of BNY Alcentra Group Holdings, Inc.
("Alcentra Group"), one of the world's leading sub-investment grade
credit asset managers focusing on the U.S. and European markets.
Alcentra Group has an investment track record that spans over
across 75 separate investment vehicles and accounts totaling
approximately $31.5 billion (including accounts
managed by Alcentra NY, LLC, Alcentra Ltd, and assets managed by
Alcentra Group personnel for affiliates under dual officer
arrangements).
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking
statements. Any such statements, other than statements of
historical fact, are based on management's current expectations,
estimates, projections, beliefs and assumptions about the Company,
its current and prospective portfolio investments, and its
industry. These statements are not guarantees of future performance
and are subject to risks, uncertainties and other factors, some of
which are beyond the Company's control, difficult to predict and
could cause actual results to differ materially from those expected
or forecasted in such forward-looking statements. Actual
developments and results are likely to vary materially from these
estimates and projections as a result of a number of factors,
including those described from time to time in Alcentra' filings
with the Securities and Exchange Commission. Such statements speak
only as of the time when made, and Alcentra undertakes no
obligation to update any such forward-looking statements, whether
as a result of new information, future events, or otherwise, except
as required by law.
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SOURCE Alcentra Capital Corporation