KCAP Financial (KCAP) Prices Larger 4.75M Offering at $9.75/Share
Tweet
Share
E-mailGet Alerts KCAP Hot Sheet
Join SI Premium – FREE
KCAP Financial (Nasdaq: KCAP) has priced a public offering of 4,750,000 shares of its common stock at a public offering price of $9.75 per share for total gross proceeds of $46,312,500. KCAP intends to use the net proceeds of this public offering for general corporate purposes, which includes investing in portfolio companies and collateralized loan obligation funds in accordance with its investment objective and strategies.
The number is up from initial expectations of a 4 million share offering.
The closing of the offering is subject to customary closing conditions and the shares are expected to be delivered on or about February 8, 2013. KCAP has also granted the underwriters an option to purchase up to 682,500 additional shares of common stock.
Barclays Capital Inc. and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers of this offering. Janney Montgomery Scott LLC and JMP Securities LLC are acting as co-lead managers and Ladenburg Thalmann & Co. Inc. and Wunderlich Securities, Inc. are acting as co-managers for this offering.
The number is up from initial expectations of a 4 million share offering.
The closing of the offering is subject to customary closing conditions and the shares are expected to be delivered on or about February 8, 2013. KCAP has also granted the underwriters an option to purchase up to 682,500 additional shares of common stock.
Barclays Capital Inc. and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers of this offering. Janney Montgomery Scott LLC and JMP Securities LLC are acting as co-lead managers and Ladenburg Thalmann & Co. Inc. and Wunderlich Securities, Inc. are acting as co-managers for this offering.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nucor (NUE) files mixed shelf
- Nvidia makes minority investment in Cloverleaf Infrastructure
- AAON rebrands its enterprise identity as The Aaon Group
Create E-mail Alert Related Categories
Corporate News, Equity OfferingsRelated Entities
Janney Montgomery Scott, JMP Securities, Barclays, Ladenburg Thalmann Financial Services, Wunderlich SecuritiesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
