Ladenburg Thalmann was the lead bookrunner; deal sold 1,892,300 shares
By Devika Patel
Knoxville, Tenn., Jan. 27 - Full Circle Capital Corp. said the underwriters for its public offering of stock opted to exercise the deal's $1.73 million greenshoe in full for total proceeds of $13.49 million. The offering was announced Jan. 13 and priced for $11.77 million with the greenshoe on Jan. 14. The sale settled on Jan. 17.
The company sold 1,892,300 common shares at $7.13 per share. The price per share reflects a 4.04% discount to the Jan. 13 closing share price of $7.43. Of the shares, 242,300 were part of the fully exercised greenshoe.
Ladenburg Thalmann & Co. Inc. was the lead bookrunning manager, and Santander Investment Securities Inc. was bookrunning manager.
Proceeds will be used to repay debt under the company's credit facility, to make investments in new companies and for general corporate purposes.
The Rye Brook, N.Y. closed-end investment company lends to and invests in senior secured loans and, to a lesser extent, mezzanine loans and equity securities issued by lower-middle-market companies.
| Issuer: | Full Circle Capital Corp.
|
| Issue: | Common stock
|
| Amount: | $13,492,099 (including $1,727,599 greenshoe)
|
| Shares: | 1,892,300
|
| Price: | $7.13
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc. (lead), Santander Investment Securities Inc.
|
| Co-lead managers: | National Securities Corp. and Maxim Group LLC
|
| Announcement date: | Jan. 13
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 17
|
| Stock symbol: | Nasdaq: FULL
|
| Stock price: | $7.43 at close Jan. 13
|
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