Garrison Capital Inc. (the “Company”) (NASDAQ: GARS) announced today the pricing of the initial public offering of 5,333,334 shares of its common stock at a public offering price of $15.00 per share, raising approximately $80 million in gross proceeds. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 800,000 shares of common stock to cover over-allotments, if any. The Company’s common stock is expected to begin trading on The NASDAQ Global Select Market under the symbol “GARS” on March 27, 2013. Robert W. Baird & Co., Incorporated and Oppenheimer & Co. Inc. are serving as joint book-running managers. William Blair & Company, L.L.C., Janney Montgomery Scott LLC, Stephens Inc. and Wunderlich Securities, Inc. are serving as co-lead managers. J.J.B. Hilliard, W.L. Lyons, LLC, Ladenburg Thalmann & Co. Inc., National Securities Corporation, Capital One Southcoast, Inc. and Natixis Securities Americas LLC are serving as co-managers. The shares are expected to be delivered to investors on April 2, 2013.
The Company plans to invest the net proceeds of the offering in accordance with its investment objective, which is to generate attractive risk-adjusted returns by making investments primarily in debt securities and loans of U.S. based middle-market companies, and for general corporate purposes.
Investors are advised to consider carefully the investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus dated March 19, 2013 contains 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. A registration statement relating to these securities has been filed and has been declared effective by the Securities and Exchange Commission on March 26, 2013. This offering is being made solely by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, from either of the following joint book-running managers: Robert W. Baird & Co. Incorporated., Attention: Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202, telephone: 800-792-2413 or email: firstname.lastname@example.org ; or Oppenheimer & Co. Inc., Attention: Prospectus Department, 85 Broad Street, 23rd Floor, New York, New York 10004.ABOUT GARRISON CAPITAL INC.