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Capital Southwest Corporation Prices Public Offering of Common Stock
DALLAS, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (NASDAQ: CSWC) (the “Company” or “Capital Southwest”) announced that it has priced an
About this update from Capital Southwest Corporation
[{"type":"text","content":"DALLAS, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (NASDAQ: CSWC) (the “Company” or “Capital Southwest”) announced that it has priced an underwritten public offering of 2,203,857 shares of its common stock at a public offering price of $18.15 per share. Capital Southwest has also granted the underwriters a 30-day option to purchase up to 330,579 additional shares of its common stock. The completion of the offering is subject to customary closing conditions. The shares of common stock are expected to be delivered on November 17, 2022. Net proceeds from the offering, after deducting underwriting discounts and estimated offering expenses payable by the Company, are expected to be approximately $38.2 million. 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 are acting as joint book-runners in the offering. Ladenburg Thalmann & Co. Inc. and Oppenheimer & Co. Inc. are acting 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 will be sold...