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Golub Capital BDC Prices 6 Million Stock Offering

May 08, 2013, 07:31 AM
Filed Under: Industry News
Related: Golub Capital

Golub Capital BDC, a business development company, announced that it has priced an underwritten public offering of 6,000,000 shares of common stock at $17.47 per share. Wells Fargo Securities, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers for the offering. The co-manager is RBC Capital Markets.  The offering of the shares will be made under the Company's shelf registration statement, which was filed with, and declared effective by, the Securities and Exchange Commission.

The offering is expected to close on May 10, 2013, subject to customary closing conditions. The company has also granted the underwriters an option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any.

The company intends to use the net proceeds from the offering to invest in portfolio companies in accordance with its investment objective and strategies and for general corporate purposes. A portion of the net proceeds from the offering is expected to be utilized to capitalize GC SBIC V, L.P., the company's wholly owned subsidiary, following which the company expects GC SBIC V, L.P. to issue debentures and make investments in accordance with the Company's investment strategy.  The company may also use a portion of the net proceeds from the offering to repay amounts outstanding under its credit facility.

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