Business
Golub Capital BDC, Inc. Announces Final Results Of Transferable Rights Offering
NEW YORK, May 14, 2020 /PRNewswire/ -- Golub Capital BDC, Inc. (NASDAQ: GBDC) (the "Company") announced the final results of its transferable rights offering,
About this update from Golub Capital Bdc, Inc.
[{"type":"text","content":"NEW YORK, May 14, 2020 /PRNewswire/ -- Golub Capital BDC, Inc. (NASDAQ: GBDC) (the \"Company\") announced the final results 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 and on May 13, 2020 all closing conditions were met, including final review and approval of the transferable rights offering by the Pricing Committee established by the Company's Board of Directors. 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.\nThe Company received total subscription requests for 64,931,650 shares of common stock, including primary subscriptions for 29,115,797 shares and over-subscription requests for an additional 35,815,853 shares. The primary subscription participation rate of 87% resulted in only 4,336,105 shares available to fill over-subscription requests. \nIn total, the Company sold 33,451,902 shares of its common stock for aggregate gross proceeds of approximately $306.7 million.\nProration of the available over-subscription shares has been made in accordance with the procedures described in the prospectus for the rights offering. Confirmations of shares purchased, including any acquired pursuant to the over-subscription privilege, and any excess payment refunded by the Company to the participating rights holder, will be mailed to participants on or around May 21, 2020. While the shares sold in the offering have been released by the Company's transfer agent to actual record date holders, the allocation of shares to participating rights holders' accounts will be the responsibility of their individual brokers or nominees. Participating rights holders should contact their brokers or other nominees for verification of receipt of shares they were issued pursuant to the offering.\nThe Company intends to use the net proceeds from the sale of shares of its common stock pursuant to the exercise of rights issued in this offering primarily (i) to initially repay outstanding indebtedness and otherwise support its financing subsidiaries, (ii) to make additional investments to support its existing portfolio companies, (iii) to position ...