RYE BROOK, N.Y.--(BUSINESS WIRE)--
Full Circle Capital Corporation (NASDAQ:FULL and FULLL) (“Full Circle
Capital”) announced today that it has priced offerings of its 8.25%
fixed-rate notes due 2020 (the “Notes”) and its shares of common stock,
par value $0.01 per share (the “Common Stock”) for combined gross
proceeds of $16,431,900. Both offerings were placed directly with
The Notes offering consists of $12,500,000 in aggregate principal amount
of the Notes. The Notes were sold at price of $25.375 plus accrued
interest from June 30, 2014, a premium to par value of $25.00 per Note,
for total gross proceeds of $12,687,500. The Notes will be a further
issuance of, rank equally in right of payment with, and form a single
series with the $21.1 million of currently outstanding Notes that will
mature on June 30, 2020, and may be redeemed in whole or in part at any
time or from time to time at Full Circle Capital’s option on or after
June 30, 2016. The Notes are listed on the NASDAQ Global Market and
trade under the trading symbol "FULLL."
Additionally, Full Circle Capital has priced an offering of 506,000
shares of its Common Stock at an offering price of $7.40 per share for
total gross proceeds of $3,744,400.
Both offerings are expected to close on July 17, 2014, subject to
customary closing conditions.
Full Circle Capital intends to use the net proceeds from both the
offering of the Notes and the offering of the Common Stock to repay
outstanding indebtedness. However, subsequent to such repayment, it
intends to borrow additional amounts under its credit facility to make
investments in new portfolio companies in accordance with its investment
objective and strategies and for general corporate purposes.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in these offerings or any
other securities nor will there be any sale of these securities or any
other securities 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.
Both offerings are being made pursuant to Full Circle Capital’s shelf
registration statement relating to such securities on file with and
declared effective by the Securities and Exchange Commission.
Each of the offerings may be made only by means of a prospectus and a
related prospectus supplement, copies of which may be obtained, when
available, from Full Circle Capital Corporation, 800 Westchester Ave.,
Suite S-620, Rye Brook, NY 10573, or phone: (914) 220-6300. Investors
are advised to carefully consider the investment objectives, risks and
charges and expenses of Full Circle Capital before investing. The
prospectus supplement and accompanying prospectus for each offering
contain a description of these matters and other important information
about Full Circle Capital and should be read carefully before investing.
About Full Circle Capital
Full Circle Capital Corporation (NASDAQ:FULL) is a Rye Brook, New York
based closed-end investment company that has elected to be treated as a
business development company under the Investment Company Act of 1940.
Full Circle Capital lends to and invests in senior secured loans and, to
a lesser extent, mezzanine loans and equity securities issued by lower
middle-market companies that operate in a diverse range of industries.
Full Circle Capital’s investment objective is to generate both current
income and capital appreciation through debt and equity investments. For
additional information visit the company’s website, www.fccapital.com.
This press release contains forward-looking statements which relate to
future events or Full Circle Capital's future performance or financial
condition. Any statements that are not statements of historical fact
(including statements containing the words "believes," "plans,"
"anticipates," "expects," "estimates" and similar expressions) should
also be considered to be forward-looking statements. These
forward-looking statements are not guarantees of future performance,
condition or results and involve a number of risks and uncertainties.
Actual results may differ materially from those in the forward-looking
statements as a result of a number of factors, including those described
from time to time in Full Circle Capital's filings with the Securities
and Exchange Commission. Full Circle Capital undertakes no duty to
update any forward-looking statements made herein.
Full Circle Capital Corporation
Gregg J. Felton,
Lippert/Heilshorn & Associates
Source: Full Circle Capital