OFS greenshoe partially exercised, raising notes to $47.5 million

New York, April 16 – OFS Capital Corp. said it closed on $47.5 million of its 6.375% $25-par notes due 2025.

The size includes the original $43.75 million priced on April 11 and partial exercise of the $6,562,500 greenshoe, according to a news release.

A further $2,812,500 of the notes may be issued if the rest of the over-allotment option is exercised by April 30.

Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC are the joint bookrunners.

B. Riley FBR Inc., BB&T Capital Markets, and National Securities Corp. are the lead managers.

The issue was downsized slightly from earlier talk of $45.75 million. There is a $6,562,500 greenshoe.

The notes may be redeemed in whole or in part at any time on or after April 30, 2020.

OFS Capital plans to use the net proceeds to fund investments in debt and equity securities in accordance with its investment objective, for other general corporate purposes and to repay outstanding debt under its revolving credit facility.

The notes will be listed on the Nasdaq Global Select Market under the ticker “OFSL.”

OFS Capital is a Chicago-based non-diversified management investment company.

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