Full Circle Capital Prices Public Offering of $18.75 million 8.25% Notes Due 2020
June 25 2013 - 7:21PM
Business Wire
Full Circle Capital Corporation (NASDAQ:FULL) (“Full Circle”)
announced that it has priced an underwritten public offering of
$18,750,000 in aggregate principal amount of 8.25% fixed-rate notes
due 2020 (the “Notes”). The Notes will mature on June 30, 2020, and
may be redeemed in whole or in part at any time or from time to
time at Full Circle’s option on or after June 30, 2016. Interest
will be payable quarterly, beginning September 30, 2013. Full
Circle has granted the underwriters an option to purchase up to an
additional $2,812,500 in aggregate principal amount of Notes. The
offering is expected to close on June 28, 2013, subject to
customary closing conditions.
Full Circle intends to use the net proceeds from the offering to
repay outstanding indebtedness. However, subsequent to such
repayment, it intends to borrow additional amounts under its credit
facility to make investments in new portfolio companies in
accordance with its investment objective and strategies described
in the prospectus and for general corporate purposes.
The Notes are expected to be listed on the NASDAQ Capital Market
and to trade thereon within 30 days of the original issue date
under the trading symbol "FULLL."
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE MKT: LTS), and William Blair
& Company, LLC are acting as joint book-running managers.
National Securities Corporation, a wholly owned subsidiary of
National Holdings, Inc. (OTCBB: NHLD), is acting as senior lead
manager. Gilford Securities Incorporated, Maxim Group LLC and MLV
& Co. LLC are acting as lead managers. C&Co/PrinceRidge LLC
and Dominick & Dominick LLC are acting as co-managers.
Investors are advised to consider carefully the investment
objective, risks and charges and expenses of Full Circle before
investing. The prospectus, dated June 25, 2013, which will be filed
with the Securities and Exchange Commission, contains a description
of these matters and other important information about Full Circle
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
Notes 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.
A registration statement relating to the Notes has been filed
with the Securities and Exchange Commission. This offering is being
made solely by means of a prospectus, copies of which may be
obtained, when available, from any of the following investment
banks: Ladenburg Thalmann & Co. Inc., Attn: Syndicate
Department, 58 South Service Road, Suite 160, Melville, New York
11747, or by telephone at (800) 573-2541; or William Blair &
Company, LLC, by telephone at 312-236-1600 or via email request:
prospectus@williamblair.com.
About Full Circle Capital
Full Circle Capital Corporation (NASDAQ: FULL) is a Rye Brook,
New York based closed-end investment company that has elected to be
treated as a business development company under the Investment
Company Act of 1940. Full Circle Capital lends to and invests in
senior secured loans and, to a lesser extent, mezzanine loans and
equity securities issued by smaller and lower middle-market
companies that operate in a diverse range of industries. Full
Circle Capital’s investment objective is to generate both current
income and capital appreciation through debt and equity
investments.
Forward-Looking Statements
This press release contains forward-looking statements which
relate to future events or Full Circle Capital's future performance
or financial condition. Any statements that are not statements of
historical fact (including statements containing the words
"believes," "plans," "anticipates," "expects," "estimates" and
similar expressions) should also be considered to be
forward-looking statements. These forward-looking statements are
not guarantees of future performance, condition or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in Full Circle Capital's filings with the Securities and
Exchange Commission. Full Circle Capital undertakes no duty to
update any forward-looking statements to reflect subsequent
events.
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