Capital Southwest Corp (CSWC) Prices $62.5M Notes Offering

Capital Southwest Corporation (NASDAQ: CSWC) (“Capital Southwest”) (rated Baa3, Stable Outlook by Moody’s) is pleased to announce that it has priced an underwritten public offering of $62.5 million in aggregate principal amount of 7.75% notes due 2028 (the “Notes”). The Notes will bear interest at a rate of 7.75% per year, payable quarterly on February 1, May 1, August 1, and November 1, beginning August 1, 2023. The Notes will mature on August 1, 2028 and may be redeemed in whole or in part at Capital Southwest’s option on or after August 1, 2025.

The Company also granted the underwriters a 30-day option to purchase up to an additional $9,375,000 in aggregate principal amount of Notes to cover overallotments, if any. The Notes are expected to be listed on the Nasdaq Global Select Market under the trading symbol “CSWCZ” within 30 days of issuance. The offering is expected to close on June 15, 2023, subject to customary closing conditions.

Capital Southwest intends to use the net proceeds from this offering to repay a portion of the outstanding indebtedness under its senior secured revolving credit facility.

Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC and Ladenburg Thalmann & Co., Inc. are serving as joint book-running managers for this offering. InspereX LLC, William Blair & Company L.L.C. and ING Financial Markets LLC are acting as co-managers for this offering.

Investors should carefully consider, among other things, Capital Southwest’s investment objective and strategies and the risks related to Capital Southwest and the offering before investing. The pricing term sheet, dated June 7, 2023, the preliminary prospectus supplement, dated June 7, 2023, and the accompanying prospectus, dated October 29, 2021, included therein, which have been filed with the Securities and Exchange Commission (the “SEC”), contain this and other information about Capital Southwest and should be read carefully before investing.

To obtain a copy of the preliminary prospectus supplement for this offering and the accompanying prospectus, please contact: Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at [email protected].

The information in the pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release do not constitute offers to sell or the solicitation of offers to buy, nor will there be any sale of the Notes 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. A shelf registration statement relating to these securities is on file with, and has been declared effective by, the SEC (File No. 333-259455).

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