CHARLOTTE, N.C.--(BUSINESS WIRE)--
Capitala Finance Corp. (NasdaqGS: CPTA) (the "Company") today announced
that it has priced an underwritten public offering of $70.0 million in
aggregate principal amount of 6.00% unsecured notes due 2022 (the
"Notes"). The Notes will mature on May 31, 2022, 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 May 31, 2019. The Notes will bear interest at a rate
of 6.00% per year payable quarterly on February 28, May 31, August 31
and November 30 of each year, commencing August 31, 2017.
The offering is expected to close on May 16, 2017, subject to customary
closing conditions. The Company has granted the underwriters an option
to purchase up to an additional $10.5 million in aggregate principal
amount of Notes. The Notes are expected to be listed on the NASDAQ
Global Select Market and to trade thereon within 30 days of the original
issue date under the trading symbol "CPTAL".
The Company expects to use the net proceeds from this offering to redeem
a portion of the outstanding indebtedness under its 7.125% fixed-rate
notes due 2021, which currently amounts to approximately $113.4 million
plus accrued interest.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE MKT: LTS), BB&T Capital Markets, a
division of BB&T Securities, LLC, Janney Montgomery Scott LLC, William
Blair & Company L.L.C. and Wunderlich Securities, Inc. are acting as
joint book-running managers. Seaport Global Securities LLC is acting as
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in this offering or any
other securities nor will there be any sale of these securities or any
other securities 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 qualification under the securities laws of
such state or jurisdiction.
A shelf registration statement relating to these securities is on
file with and has been declared effective by the Securities and Exchange
Commission. The offering may be made only by means of a prospectus and a
related prospectus supplement, copies of which may be obtained, when
available, from any of the following investment banks: Ladenburg
Thalmann & Co. Inc., Attn: Syndicate Department, 277 Park Ave, 26th
Floor, New York, NY 10172, or by emailing email@example.com
(telephone number 1-800-573-2541); BB&T Capital Markets, a division of
BB&T Securities, LLC, Attn: Syndicate Department, 901 East Byrd Street, 3rd
Floor, Richmond, VA 23219, or by emailing firstname.lastname@example.org;
Janney Montgomery Scott LLC, Attn: Syndicate Department, 1717 Arch
Street, Philadelphia, PA 19103, or by emailing email@example.com;
William Blair & Company, L.L.C., Attention: Prospectus Department, 222
West Adams Street, Chicago, IL 60606, or by telephone at 1-800-621-0687
or email at firstname.lastname@example.org;
Wunderlich Securities, Inc., Attn: Syndicate Department, 6000 Poplar
Ave., Suite 150, Memphis, TN 38119, or by emailing email@example.com.
The preliminary prospectus supplement, dated May 9, 2017, and
accompanying prospectus, dated May 1, 2017, each of which has been filed
with the Securities and Exchange Commission, contain a description of
these matters and other important information about the Company
and should be read carefully before investing. Investors are advised to
carefully consider the investment objectives, risks and charges and
expenses of the Company before investing.
About Capitala Finance Corp.
Capitala Finance Corp. is a business development company that invests
primarily in first and second liens, subordinated debt and, to a lesser
extent, equity securities issued by lower and traditional middle-market
companies. The Company is managed by Capitala Investment Advisors, LLC.
Forward Looking Statements
This press release contains forward-looking statements subject to the
inherent uncertainties in predicting future results and conditions,
including statements with regard to the Company's securities offering
and the anticipated use of the net proceeds of the offering. Any
statements that are not statements of historical fact (including
statements containing the words "believes," "plans," "anticipates,"
"expects," "estimates" and similar expressions) should also be
considered to be forward-looking statements. Certain factors could cause
actual results and conditions to differ materially from those projected
in these forward-looking statements. These factors are identified from
time to time in our filings with the Securities and Exchange Commission.
We undertake no obligation to update such statements to reflect
subsequent events, except as may be required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170510006362/en/
Capitala Finance Corp.
Stephen Arnall, 704-376-5502
Source: Capitala Finance Corp.
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