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Capital Southwest Corporation Closes Public Offering of Common Stock
Underwriters Fully Exercise Option to Purchase Additional Shares DALLAS, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (NASDAQ: CSWC) (the
About this update from Capital Southwest Corporation
[{"type":"text","content":"Underwriters Fully Exercise Option to Purchase Additional Shares\nDALLAS, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (NASDAQ: CSWC) (the “Company” or “Capital Southwest”) announced that it has closed an underwritten public offering of 2,534,436 shares of its common stock at a public offering price of $18.15 per share. The total amount of shares issued includes the underwriters’ full exercise of their option to purchase an additional 330,579 shares of the Company’s common stock. The Company received approximately $44.0 million in net proceeds from this offering, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from this offering to repay outstanding indebtedness under its senior secured revolving credit facility, to make investments in accordance with its investment objective and strategies, and for other general corporate purposes, including payment of operating expenses. Raymond James & Associates, Inc., UBS Securities LLC, Wells Fargo Securities, LLC, and Goldman Sachs & Co. LLC acted as joint book-runners in the offering. Ladenburg Thalmann & Co. Inc. and Oppenheimer & Co. Inc. acted as co-managers for this offering. Investors should carefully consider, among other things, the Company’s investment objective and strategies and the risks related to the Company and the offering before investing. The final prospectus supplement, dated November 14, 2022, and the accompanying prospectus, dated October 29, 2021, contain a description of these matters and other important information about Capital Southwest 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 the securities described above nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction. The Securities and Exchange Commission (the “SEC”) has not approved or disapproved these securities or passed upon the adequacy of the prospectus relating to this offering. Any representation to the contrary is a criminal offense. The shares were sold pursuant to an effective shelf registration statement on Form N-2 that has been filed w...