Business
Gladstone Capital Corporation Prices Public Offering of 5.375% Notes due 2024
MCLEAN, Va., Oct. 08, 2019 (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (NASDAQ: GLAD) (the “Company”) today announced that it priced a public offering
About this update from Gladstone Capital Corporation
[{"type":"text","content":"MCLEAN, Va., Oct. 08, 2019 (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (NASDAQ: GLAD) (the “Company”) today announced that it priced a public offering of $33,750,000 aggregate principal amount of 5.375% Notes due 2024 (the “Notes”) on October 7, 2019. The Notes will mature on November 1, 2024 and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after November 1, 2021. The Notes will bear interest at a rate of 5.375% per year payable quarterly on February 1, May 1, August 1 and November 1 of each year, beginning November 1, 2019. The Company also granted the underwriters a 30-day option to purchase up to an additional $5,062,500 in aggregate principal amount of Notes to cover overallotments, if any. The Company expects to list the Notes on the Nasdaq Global Select Market under the trading symbol “GLADL” within 30 days of issuance. Janney Montgomery Scott, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS), and B. Riley FBR are acting as joint book-running managers for this offering. William Blair and Wedbush Securities are acting as co-managers for this offering.\n The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about October 10, 2019. The Company intends to use the net proceeds from this offering to repay a portion of the amount outstanding under its credit facility, to fund new investment opportunities, and for other general corporate purposes. Investors are advised to carefully consider the investment objectives, risks, charges and expenses of the Company before investing. The prospectus supplement, dated October 7, 2019, and the accompanying prospectus, dated February 5, 2019, which will be filed with the U.S. Securities and Exchange Commission (the “SEC”), contain this and other information about the Company and should be read carefully before investing. The offering is being conducted as a public offering under the Company’s effective shelf registration filed with the SEC (File No. 333–228720). To obtain a copy of the preliminary prospectus supplement for this offering and the accompanying prospectus, please contact: Janney Montgomery Scott LLC, 1717 Arch Street, Philadelphia, PA 19103 by writing to [email protected] or calling 215-...