Daily News: September 27, 2013

Morgan Stanley, Others Lead Fifth Street $181MM Public Offering

Fifth Street Finance announced that it closed a public offering of 17,643,000 shares of its common stock, including 2,143,000 shares sold pursuant to the underwriters’ option to purchase additional shares, at a public offering price of $10.31 per share for total gross proceeds of approximately $181.9 million.

Morgan Stanley, Wells Fargo Securities, Goldman Sachs, J.P. Morgan, Barclays and Deutsche Bank Securities acted as lead book-running managers for the offering. RBC Capital Markets, UBS Investment Bank, Keefe, Bruyette & Woods, a Stifel company, and Oppenheimer & Co. acted as joint book-running managers for the offering. SMBC Nikko, Maxim Group and National Securities Corporation acted as co-managers for the offering.

Fifth Street intends to use the net proceeds from this offering to repay debt outstanding under its credit facilities. However, through re-borrowing under its credit facilities, it intends to make investments in small and mid-sized companies in accordance with its investment objective and strategies described in the prospectus supplement and accompanying prospectus and may use such funds for general corporate purposes.