Golub Capital BDC (GBDC) Prices 1.75M Stock Offering at $18.35/Share

August 15, 2016 7:30 PM EDT

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Golub Capital BDC, Inc. (Nasdaq: GBDC), announced that it has priced an underwritten, public offering of 1,750,000 shares of its common stock at a public offering price of $18.35 per share. Wells Fargo Securities (the "underwriter") is acting as the sole book-running manager for the offering. The offering of the shares will be made under the Company's shelf registration statement, which was filed with, and declared effective by, the Securities and Exchange Commission.

The offering is expected to close on August 19, 2016, subject to customary closing conditions. The Company has also granted the underwriter an option to purchase up to an additional 262,500 shares of common stock.

The Company intends to use the net proceeds from the offering to invest in portfolio companies in accordance with its investment objective and strategies and for general corporate purposes. The Company will also pay operating expenses, including management and administrative fees, and may pay other expenses such as due diligence expenses relating to potential new investments, from the net proceeds of the offering. A portion of the net proceeds from the offering may be utilized to capitalize Senior Loan Fund LLC, an unconsolidated Delaware limited liability company that invests primarily in senior secured loans of middle-market companies and is co-managed by the Company and RGA Reinsurance Company. A portion of the net proceeds from the offering may also be used to capitalize GC SBIC V, L.P., the Company's wholly-owned subsidiary, following which the Company expects GC SBIC V, L.P. to issue debentures and make investments in accordance with the Company's investment strategy. The Company may also use a portion of the net proceeds from the offering to repay amounts outstanding under its credit facility.

Investors are advised to carefully consider the investment objective, risks, charges and expenses of the Company before investing. The preliminary prospectus supplement dated August 15, 2016 and the accompanying prospectus dated April 13, 2016, which have been filed with the Securities and Exchange Commission, contain this and other information about the Company and should be read carefully before investing.

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