NEW YORK--(BUSINESS WIRE)--Jan. 8, 2013--
Solar Capital Ltd. (the “Company”) (NasdaqGS: SLRC) announced today that
it has priced a public offering of 6,000,000 shares of its common stock
at a public offering price of $24.40 per share for total gross proceeds
of $146.4 million. The closing of the offering is subject to customary
closing conditions and is expected to take place on January 11, 2013. In
connection with the offering, the Company has granted the underwriters
for the offering a 30-day option to purchase up to an additional 900,000
shares of common stock.
The Company intends to use the net proceeds from this offering to pay
down outstanding indebtedness under its revolving credit facilities, and
for general corporate purposes, including working capital requirements.
However, through reborrowing under its revolving credit facilities, the
Company intends to make investments in debt or equity securities
consistent with its investment objective and other general corporate
purposes.
Citigroup, Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan,
Morgan Stanley and Wells Fargo Securities are acting as joint
book-runners for this offering. The lead manager is SunTrust Robinson
Humphrey, the senior co-managers are BMO Capital Markets and RBC Capital
Markets, and the co-managers are BB&T Capital Markets and Ladenburg
Thalmann & Co. Inc.
Investors are advised to carefully consider the investment
objectives, risks and charges and expenses of the Company before
investing. The preliminary prospectus supplement and accompanying
prospectus, each of which has been filed with the Securities and
Exchange Commission, contain a description of these matters and other
important information about the Company and should be read carefully
before investing.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in this offering or any
other securities nor will there be any sale of these securities or any
other securities referred to in this press release in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
such state or jurisdiction.
The shares will be issued from the Company’s shelf registration
statement relating to these securities on file with and declared
effective by the Securities and Exchange Commission. The offering may be
made only by means of a prospectus and a related prospectus supplement,
copies of which may be obtained, when available, from (1) Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717, or by phone at 1-800-831-9146; (2) Deutsche Bank Securities Inc.,
60 Wall Street, New York, NY 10005, Attention: Prospectus Group or by
phone at 1-800-503-4611, or e-mailing: prospectus.cpdg@db.com
(3) Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street,
New York, NY 10282, Telephone: 1-866-471-2526, Facsimile: 212-902-9316, prospectus-ny@ny.email.gs.com;
(4) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus
Department, or by calling 866-803-9204; (5) Morgan Stanley & Co. LLC,
180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus
Department, by phone at 1-866-718-1649, or e-mailing: prospectus@morganstanley.com;
and (6) Wells Fargo Securities, LLC, Attn: Equity Syndicate Department,
375 Park Avenue, New York, NY 10152-4077, or by calling (800) 326-5897,
or by email: cmclientsupport@wellsfargo.com.
ABOUT SOLAR CAPITAL LTD.
Solar Capital Ltd. is a closed-end investment company that has elected
to be treated as a business development company under the Investment
Company Act of 1940. The Company invests primarily in leveraged, middle
market companies in the form of senior secured loans, mezzanine loans,
and equity securities.
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute “forward-looking statements,”
which relate to future events or our future performance or financial
condition, including statements with regard to the anticipated use of
the net proceeds of the Company’s securities offering. These statements
are not guarantees of future performance, conditions or results and
involve a number of risks and uncertainties. Actual results may differ
materially from those in the forward-looking statements as a result of a
number of factors, including those described from time to time in our
filings with the Securities and Exchange Commission. Solar Capital Ltd.
undertakes no duty to update any forward-looking statements made herein.
Source: Solar Capital Ltd.
Solar Capital Ltd.
Richard Pivirotto, 212-994-8543