WHITE PLAINS, N.Y., June 18, 2008 (PRIME NEWSWIRE) -- Fifth Street Finance Corp. (NYSE:FSC) today announced that it completed an initial public offering, raising approximately $141.2 million in gross proceeds. All shares were offered by Fifth Street Finance Corp. Goldman, Sachs & Co., UBS Securities LLC and Wachovia Capital Markets, LLC acted as joint book-running managers and representatives of the underwriters.
Fifth Street Finance Corp. expects to use substantially all of the net proceeds from this offering to make investments in small and mid-sized companies, and may use a portion of the net proceeds to redeem shares of its outstanding preferred stock, reduce its outstanding borrowings, pay operating expenses and dividends, and for general corporate purposes.
A copy of the prospectus for the offering may be obtained from Goldman, Sachs & Co., Prospectus Department, 100 Burma Road, Jersey City, NJ 07305. Phone: 212 902 1171, Facsimile: 212-902-9316, and e-mail at prospectus-ny@ny.email.gs.com; UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171 (telephone number: 888-827-7275); and/or Wachovia Capital Markets, LLC, 375 Park Avenue, New York, NY 10152-4077, Attn: Equity Syndicate.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
About Fifth Street Finance Corp.
Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance Corp.'s investment objective is to maximize its portfolio's total return by generating current income from its debt investments and capital appreciation from its equity investments.
Forward-Looking Statements
This press release may contain certain forward-looking statements, including statements with regard to the future performance of Fifth Street Finance Corp. Words such as "believes," "expects," "projects," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in Fifth Street Finance Corp.'s prospectus, dated June 11, 2008. Fifth Street Finance Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.