Stellus Capital (SCM) IPO Opens Flat

November 8, 2012 11:12 AM EST Send to a Friend
The IPO for Stellus Capital Investment Corporation (NYSE: SCM) opened for trading at $15 after pricing 8,000,000 shares of common stock at a public offering price of $15 per share.

Raymond James and Stifel, Nicolaus & Company, Incorporated are serving as joint book-running managers. Robert W. Baird & Co. Incorporated and Oppenheimer & Co. Inc. are serving as co-lead managers. Janney Montgomery Scott LLC and Sterne, Agee & Leach, Inc. are serving as co-managers.

Stellus Capital is an externally-managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation by investing primarily in private middle-market companies (typically those with $5.0 million to $50.0 million of EBITDA (earnings before interest, taxes, depreciation and amortization)) through first lien, second lien, unitranche and mezzanine debt financing, often with a corresponding equity investment.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

IPOs

Related Entities

Raymond James, Robert W Baird, Janney Montgomery Scott, Sterne Agee, Earnings

Add Your Comment