Business
Fidus Investment Corporation Prices Offering of $125 Million of 3.50% Notes Due 2026
EVANSTON, Ill., Oct. 01, 2021 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ: FDUS) (“Fidus” or the “Company”) today announced that it priced a
About this update from Fidus Investment Corporation
[{"type":"text","content":"EVANSTON, Ill., Oct. 01, 2021 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ: FDUS) (“Fidus” or the “Company”) today announced that it priced a public offering of $125 million aggregate principal amount of 3.50% notes due 2026 (the “Notes”) on October 1, 2021. The Notes will mature on November 15, 2026 and may be redeemed in whole or in part at any time or from time to time at the Company’s option at par plus a “make-whole” premium, if applicable. The Notes will bear interest at a rate of 3.50% per year payable semi-annually on May 15 and November 15 of each year, beginning May 15, 2022. Raymond James & Associates, Inc. and Keefe, Bruyette & Woods, A Stifel Company, are acting as book-runners for this offering. Oppenheimer & Co. Inc., B. Riley Securities, Inc., Hovde Group, LLC, ING Financial Markets LLC and Ladenburg Thalmann & Co. Inc. are acting as lead managers for the offering. The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about October 8, 2021. The Company intends to use the net proceeds from this offering to redeem all of its outstanding 6.000% notes due 2024 and its 5.375% notes due 2024 (callable on November 1, 2021) and repay a portion of the amount outstanding under its senior secured revolving credit facility (the “Credit Facility”). However, the Company may re-borrow under the Credit Facility and use such borrowings to invest in lower middle-market companies in accordance with its investment objective and strategies and for working capital and general corporate purposes. As of September 30, 2021, the Company had $40.0 million of outstanding indebtedness under the Credit Facility. Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement dated October 1, 2021 and the accompanying prospectus dated May 3, 2021, each of which has been filed with the Securities and Exchange Commission (the “SEC”), contain a description of these matters and other important information about the Company 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 jurisdict...