Business
Golub Capital BDC, Inc. Announces Expiration Of Transferable Rights Offering
NEW YORK, May 7, 2020 /PRNewswire/ -- Golub Capital BDC, Inc. (NASDAQ: GBDC) ("we," "us," "our," "GBDC" or the "Company") announced the expiration of its
About this update from Golub Capital Bdc, Inc.
[{"type":"text","content":"NEW YORK, May 7, 2020 /PRNewswire/ -- Golub Capital BDC, Inc. (NASDAQ: GBDC) (\"we,\" \"us,\" \"our,\" \"GBDC\" or the \"Company\") announced the expiration of its transferable rights offering, which entitled holders of rights to purchase one share of common stock for every right held at a subscription price of $9.17 per share. The rights offering expired on May 6, 2020 at 5:00 p.m., New York City time. Wells Fargo Securities, LLC acted as lead dealer manager for the offering. J.P. Morgan and Morgan Stanley & Co. LLC acted as co-dealer managers for the offering.\n\"We are pleased the rights offering was over-subscribed and thank our shareholders for their continued strong support. We believe this new capital is a strategic resource that will create opportunities for GBDC,\" said David B. Golub, Chief Executive Officer of the Company.\nPreliminary results indicate that the rights offering was meaningfully over-subscribed. The Company received subscriptions for over 55 million shares accompanied by estimated payments and additional subscriptions for over 10 million shares by notice of guaranteed delivery. The Company cannot assure you that it will receive payments for the more than 10 million shares subscribed for by notice of guaranteed delivery on or before 5:00 pm New York City time on May 8, 2020 and, as a result, the number of shares subscribed for could be less. The exact number of shares of common stock subscribed for will be determined on or around May 15, 2020 but in no event will the Company issue more than 33,451,902 shares pursuant to the subscriptions as set forth in the prospectus. Proration of any available over-subscription shares will be made in accordance with the procedures described in the prospectus for the rights offering and confirmations of shares purchased will be mailed to participants on or before May 21, 2020. Any excess payment to be refunded to a participating rights holder will be mailed by the subscription agent to the rights holder as promptly as practicable after the confirmations are sent to the participants. No interest will be paid on any amounts refunded.\nThe subscription agent will send participants in the rights offering a confirmation showing the number of shares purchased pursuant to the basic subscription, the number of shares, if any, acquired pursuant to the over-subscription privilege...