Full Circle to sell shares, invests in senior secured, mezzanine loans

By Toni Weeks

San Diego, Nov. 26 - Full Circle Capital Corp. said it is planning to sell 1.35 million shares of its common stock with a greenshoe of an additional 202,500 shares.

The externally managed non-diversified closed-end management investment company seeks to generate both current income and capital appreciation through debt and equity investments. The company invests primarily in senior secured loans and, to a lesser extent, mezzanine loans and equity securities issued by smaller and lower middle-market companies that operate in a diverse range of industries.

The offering will be conducted via underwriters Ladenburg Thalmann & Co. Inc., Maxim Group LLC and National Securities Corp.

The investment committee is comprised of John E. Stuart, Stephen J. Healey, Lawrence Chua and Crandall Deery.

The last reported sale price of the stock on Nov. 23 (Nasdaq: FULL) was $8.49 per share.

The sales load will be 5%. Annual expenses, including a base management fee of 2.57%, are expected at 14.63%.

Rye Brook, N.Y.-based Full Circle Advisors is the investment adviser.

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