Filed Pursuant to Rule 497
File No. 333-216207
Rule 482ad
May 17, 2017
Alcentra Capital Corporation Announces Pricing of Offering
of Common Stock
NEW YORK—May 17, 2017/PRNewswire/— Alcentra Capital
Corporation (Nasdaq GSM: ABDC) (the “Company”)
announced today that it has priced
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
at a public offering price of $13.68 per share. 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., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services
Inc. (NYSE MKT: LTS) and Oppenheimer & Co. Inc. are acting as lead managers. 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 closing of the offering is subject to
customary closing conditions and is expected to take place on May 22, 2017.
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.
For further information: Paul Echausse, Chief Executive Officer
and President, 212-922-8960, paul.echausse@alcentra.com, David Scopelliti, Chief Investment Officer of U.S. Direct Lending, 212-922-6237,
david.scopelliti@alcentra.com, Ellida McMillan, Chief Financial Officer and Chief Operating Officer, 212- 922-6644, ellida.mcmillan@alcentra.com
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