NEW YORK -- (Business Wire)
Solar Senior Capital Ltd. (the “Company”) (NasdaqGS: SUNS) announced
today that it has commenced a public offering of 2,000,000 shares of its
common stock. In connection with the proposed offering, the Company
intends to grant the underwriters for the offering a 30-day option to
purchase up to an additional 300,000 shares of common stock.
The Company intends to use the net proceeds from this offering to pay
down outstanding indebtedness under its revolving credit facility, and
for general corporate purposes, including working capital requirements.
However, through reborrowing under its revolving credit facility, the
Company intends to make investments in debt securities consistent with
its investment objective and for other general corporate purposes.
Citigroup is acting as lead book-runner for this offering. RBC Capital
Markets is acting as a book-runner, and the co-managers are JMP
Securities LLC and Ladenburg Thalmann & Co. Inc.
Investors are advised to carefully consider the investment
objectives, risks and charges and expenses of the Company before
investing. The preliminary prospectus supplement and accompanying
prospectus, each of which has been filed with the Securities and
Exchange Commission, contain a description of these matters and other
important information about the Company and should be read carefully
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in this offering 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.
The shares will be issued from the Company’s shelf registration
statement relating to these securities on file with and declared
effective by the Securities and Exchange Commission. The offering may be
made only by means of a prospectus and a related prospectus supplement,
copies of which may be obtained, when available, from Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717, or by phone at 1-800-831-9146.
ABOUT SOLAR SENIOR CAPITAL LTD.
Solar Senior Capital Ltd. is a closed-end investment company that has
elected to be treated as a business development company under the
Investment Company Act of 1940. The Company invests primarily in
leveraged, middle market companies in the form of senior secured loans.
Statements included herein may constitute “forward-looking statements,”
which relate to future events or our future performance or financial
condition, including statements with regard to the anticipated use of
the net proceeds of the Company’s securities offering. These statements
are not guarantees of future performance, conditions 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 our
filings with the Securities and Exchange Commission. Solar Senior
Capital Ltd. undertakes no duty to update any forward-looking statements
Solar Senior Capital Ltd.
Richard Pivirotto, 212-994-8543
Source: Solar Senior Capital Ltd.
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