PennantPark Floating Rate Capital (PFLT) Prices 4M Share Offering at $12.40/sh

PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) today announced that it has priced an underwritten primary offering of 4,000,000 shares of its common stock at a public offering price of $12.40 per share pursuant to the Company’s shelf registration statement, which was filed with, and has been declared effective by, the Securities and Exchange Commission (the “Commission”), which will result in gross proceeds to the Company of approximately $49.6 million, before deducting underwriting commission and discounts and estimated offering expenses. In addition, in connection with this offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock. The offering is expected to close on August 11, 2022, subject to customary closing conditions.

The Company expects to use the net proceeds from the offering to reduce outstanding obligations under its existing indebtedness, to invest in new or existing portfolio companies, to capitalize a subsidiary or new joint venture or for other general corporate or strategic purposes.

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan, Keefe, Bruyette & Woods, A Stifel Company, RBC Capital Markets, LLC and Truist Securities are serving as joint book-running managers for the offering. Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., Maxim Group LLC and Comerica Securities, Inc. are serving as co-managers for the offering.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement, dated August 8, 2022 and the accompanying prospectus, dated January 29, 2020, which have been filed with the Commission, contain this and other 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 nor will there be any sale of the shares 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 offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from the joint book-running managers at: Morgan Stanley & Co. LLC, Attn. Prospectus Department, 180 Varick Street, New York, NY 10014; Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, 4th Floor, New York, NY 10019; RBC Capital Markets, LLC, 200 Vesey Street, New York, NY 10281; and Truist Securities, Inc., 3333 Peachtree Road NE, Atlanta, GA 30326.

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