Full Circle Capital Announces Full Exercise of Option to Purchase Additional Shares of Common Stock
January 27 2014 - 4:05PM
Business Wire
Full Circle Capital Corporation (NASDAQ:FULL) (“Full Circle”)
today announced the full exercise of the option granted to the
underwriters to purchase additional shares of Full Circle’s common
stock in connection with its previously announced public offering
of 1,650,000 shares, which closed on January 17, 2014. In
connection with the exercise of this option, Full Circle issued
242,300 additional shares of its common stock at a public offering
price of $7.13 per share for gross proceeds of $1,727,599. Full
Circle now has 9,461,682 shares of common stock outstanding.
Full Circle intends to use the net proceeds from this offering
to repay debt outstanding under its credit facility, make
investments in new portfolio companies in accordance with its
investment objective and strategies described in the prospectus
supplement and accompanying prospectus and for general corporate
purposes.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE MKT: LTS), acted as the lead
bookrunning manager and representative of the several underwriters
for the offering. Santander Investment Securities Inc. acted as
bookrunning manager for the offering and National Securities
Corporation, a wholly owned subsidiary of National Holdings, Inc.
(OTCBB:NHLD), and Maxim Group LLC acted as co-lead managers for the
offering.
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 lends to and invests in senior
secured loans and, to a lesser extent, mezzanine loans and equity
securities issued by lower middle-market companies that operate in
a diverse range of industries. Full Circle’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, including statements with regard to the
anticipated use of the net proceeds of this offering. 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. Certain factors could
cause actual results and conditions to differ materially from those
projected in these forward-looking statements. These factors are
identified from time to time in Full Circle’s filings with the
Securities and Exchange Commission. Full Circle undertakes no
obligation to update such statements to reflect subsequent
events.
Company:Full Circle Capital CorporationJohn E. Stuart,
914-220-6300Co-Chief Executive
OfficerJstuart@fccapital.comorInvestor
Relations:Lippert/Heilshorn & AssociatesStephanie
Prince/Jody Burfening212-838-3777sprince@lhai.com
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