Proceeds for senior secured loan investments, corporate purposes
By Toni Weeks
San Luis Obispo, Calif., Feb. 27 - Full Circle Capital Corp. priced a $4.92 million public offering of common stock, according to a 497 filing with the Securities and Exchange Commission. The company will sell the shares to certain institutional investors.
The company priced 630,000 shares at $7.81 per share for proceeds of $4,920,300. The per-share price is a 5% discount to the $8.22 closing price of Full Circle's common stock on Wednesday.
Settlement is expected on March 4.
Proceeds will be used for investments in new portfolio companies and general corporate purposes.
The externally managed, non-diversified, closed-end management investment company is based in Rye Brook, N.Y. It seeks to generate current income and capital appreciation through debt and equity investments by investing primarily in senior secured loans and, to a lesser extent, mezzanine loans and equity securities issued by smaller and lower middle-market companies from a diverse range of industries.
| Issuer: | Full Circle Capital Corp.
|
| Issue: | Common shares
|
| Amount: | $4,920,300
|
| Shares: | 630,000
|
| Price: | $7.81
|
| Warrants: | No
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 4
|
| Stock symbol: | Nasdaq: FULL
|
| Stock price: | $8.22 at close Feb. 26
|
| Market capitalization: | $77.87 million
|
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