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Fidus Investment Corporation Prices Public Offering of $100 Million of 6.750% Notes Due 2030
EVANSTON, Ill., March 12, 2025 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ: FDUS) (“Fidus” or the “Company”) today announced that it has priced
About this update from Fidus Investment Corporation
[{"type":"text","content":"EVANSTON, Ill., March 12, 2025 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ: FDUS) (“Fidus” or the “Company”) today announced that it has priced an underwritten public offering of $100 million aggregate principal amount of 6.750% notes due 2030 (the “Notes”). The Notes will mature on March 19, 2030, and may be redeemed in whole or in part at the Company’s option at any time prior to September 19, 2029 at par plus a “make-whole” premium, and at par thereafter. The Notes will bear interest at a rate of 6.750% per year payable semi-annually on March 19 and September 19 of each year, beginning September 19, 2025. The offering is expected to close on March 19, 2025, subject to the satisfaction of customary closing conditions. Raymond James & Associates, Inc. is acting as book-runner for this offering. Keefe, Bruyette & Woods, Inc., Oppenheimer & Co. Inc., and ING Financial Markets LLC are acting as passive book-runners for this offering. B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are acting as co-managers for this offering. The Company intends to use the net proceeds from this offering to repay a portion of the outstanding borrowings 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 March 11, 2025, the Company had $125.0 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 March 12, 2025 and the accompanying prospectus dated May 8, 2024, 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualificatio...