Fifth Street Finance to Raise $149.5 Million in Stock Offering

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Fifth Street Finance (NAS: FSC) today announced details of its public stock offering. Fifth Street will issue 14 million shares of its common stock, priced at $10.68 per share, raising approximately $149.5 million. The company intends to use proceeds from the stock offering to pay down existing debt.

Lead underwriters of Fifth Street's stock offering include MorganStanley, Barclays, Goldman Sachs, UBS Investment Bank, and Wells Fargo Securities. The underwriters have been granted an option to purchase as many as 2.1 million additional shares of Fifth Street stock. The offering is subject to standard closing conditions, and Fifth Street shares included in the offering are expected to be delivered on or around Dec. 7.

Fifth Street Finance Corp. is a specialty finance company that lends capital and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors.


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The article Fifth Street Finance to Raise $149.5 Million in Stock Offering originally appeared on Fool.com.

Tim Brugger has no positions in the stocks mentioned above. The Motley Fool owns shares of Bank of America and Wells Fargo & Company. Motley Fool newsletter services recommend Goldman Sachs Group and Wells Fargo & Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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