PennantPark Floating Rate Capital Ltd. Announces Public Offering of Common Stock
August 08 2022 - 4:26PM
PennantPark Floating Rate Capital Ltd. (the
“Company”)
(NYSE: PFLT) (TASE: PFLT) today
announced that it has commenced an underwritten primary offering of
shares of its common stock (the “Offering”). The Company also
expects to grant the underwriters an option to purchase additional
shares of its common stock. The Offering will be made pursuant to
the Company’s shelf registration statement, which was filed with,
and has been declared effective by, the Securities and Exchange
Commission (the “Commission”).
The Company expects to use the net proceeds from
the Offering to reduce outstanding obligations under its existing
indebtedness, to invest in new or existing portfolio companies, to
capitalize a subsidiary or new joint venture or for other general
corporate or strategic purposes.
Morgan Stanley, Goldman Sachs & Co. LLC,
J.P. Morgan, Keefe, Bruyette & Woods, A Stifel Company, RBC
Capital Markets, LLC and Truist Securities are serving as joint
book-running managers for the Offering.
Investors are advised to carefully
consider the investment objectives, risks and charges and expenses
of the Company before investing. The preliminary prospectus
supplement, dated August 8, 2022, and the accompanying prospectus,
dated January 29, 2020, which have been filed with the Commission,
contain this and other information about the Company and should be
read carefully before investing.The information in the
preliminary prospectus supplement, the accompanying prospectus and
this press release is not complete and may be changed. 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.
The Offering may be made only by means
of a prospectus and a related prospectus supplement, copies of
which may be obtained from the joint book-running managers at:
Morgan Stanley & Co. LLC, Attn. Prospectus Department, 180
Varick Street, New York, NY 10014; Goldman Sachs & Co. LLC, 200
West Street, New York, NY 10282; J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717; Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue,
4th Floor, New York, NY 10019; RBC Capital Markets, LLC, 200 Vesey
Street, New York, NY 10281; and Truist Securities, Inc., 3333
Peachtree Road NE, Atlanta, GA 30326.
About PennantPark Floating Rate Capital
Ltd.
PennantPark Floating Rate Capital Ltd. is a business development
company which primarily invests in U.S. middle-market companies in
the form of floating rate senior secured loans, including first
lien secured debt, second lien secured debt and subordinated debt.
From time to time, the Company may also invest in equity
investments. PennantPark Floating Rate Capital Ltd. is managed by
PennantPark Investment Advisers, LLC.
About PennantPark Investment Advisers, LLC
PennantPark Investment Advisers, LLC is a leading middle-market
credit platform, managing approximately $6.0 billion of investable
capital, including potential leverage. Since its inception in 2007,
PennantPark Investment Advisers, LLC has provided investors access
to middle-market credit by offering private equity firms and their
portfolio companies as well as other middle-market borrowers a
comprehensive range of creative and flexible financing solutions.
PennantPark Investment Advisers, LLC is headquartered in Miami and
has offices in New York, Chicago, Houston, and Los
Angeles.Forward-Looking
Statements
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. You should understand that under Section 27A(b)(2)(B) of
the Securities Act of 1933, as amended, and Section 21E(b)(2)(B) of
the Securities Exchange Act of 1934, as amended, or the Exchange
Act, the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995 do not apply to forward-looking
statements made in periodic reports we file under the Exchange Act.
All statements other than statements of historical facts included
in this press release are forward-looking statements and are not
guarantees of future performance 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
filings with the Securities and Exchange Commission as well as
changes in the economy and risks associated with possible
disruption in the Company’s operations or the economy generally due
to terrorism, natural disasters or pandemics such as COVID-19.
PennantPark Floating Rate Capital Ltd. undertakes no duty to update
any forward-looking statement made herein. You should not place
undue influence on such forward-looking statements as such
statements speak only as of the date on which they are made.
We may use words such as “anticipates,” “believes,” “expects,”
“intends,” “seeks,” “plans,” “estimates” and similar expressions to
identify forward-looking statements.
Contacts
Richard T. Allorto, Jr.PennantPark Floating Rate Capital
Ltd.(212) 905-1000
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