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Fifth Street Finance Corp. Prices Public Offering Of Common Stock

Stocks in this article: FSC

WHITE PLAINS, N.Y., April 11, 2013 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (Nasdaq:FSC) ("Fifth Street") today announced that it priced a public offering of 13,500,000 shares of its common stock at a public offering price of $10.85 per share for total gross proceeds of $146,475,000. All shares are being offered by Fifth Street. Morgan Stanley, Barclays, Deutsche Bank Securities, Goldman, Sachs & Co. and Wells Fargo Securities are acting as lead book-running managers for the offering, Keefe, Bruyette & Woods, Raymond James, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers for the offering and JMP Securities, SMBC Nikko, Sterne Agee, Maxim Group LLC and Wunderlich Securities are acting as co-managers for the offering.

The closing of the offering is subject to customary closing conditions and the shares are expected to be delivered on or about April 15, 2013. Fifth Street has also granted the underwriters an option to purchase up to 2,025,000 additional shares of common stock.

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 for general corporate purposes.

The offering is being made pursuant to Fifth Street's existing effective shelf registration statement on Form N-2 previously filed with the Securities and Exchange Commission. The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which, when available, may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014 (Attn: Prospectus Department, tel: (866) 718-1649 or prospectus@morganstanley.com ); Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, New York 11717 (tel: (888) 603-5847 or barclaysprospectus@broadridge.com ); Deutsche Bank Securities Inc., 60 Wall Street, New York, New York 10005 (Attn: Prospectus Group, tel: (800) 503-4611 or prospectus.cpdg@db.com ); Goldman, Sachs & Co., 200 West Street, New York, New York 10282 (Attn: Prospectus Department, tel: (866) 471-2526 or prospectus-ny@ny.email.gs.com ); Wells Fargo Securities, LLC, 375 Park Avenue, New York, New York 10152 (Attn: Equity Syndicate Department, tel: (800) 326-5897 or cmclientsupport@wellsfargo.com ) ; Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, 4th Floor, New York, New York 10019 (Attn: Capital Markets or tel: (800) 966-1559); Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716; RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, New York 10281 (Attn: Prospectus Department or tel: (877) 822-4089); and UBS Securities LLC, 299 Park Avenue, New York, New York 10171 (Attn: Prospectus Department or tel: (888) 827-7275) . Investors are advised to carefully consider the investment objective, risks, charges and expenses of Fifth Street before investing. The prospectus supplement and accompanying prospectus contain a description of these matters and other important information about Fifth Street and should be read carefully before investing.

This press release does not constitute an offer to sell or a 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.

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