Full Circle Capital Corporation (NASDAQ:FULL) (“Full Circle”) announced that it has closed an underwritten public offering of $2.4 million in aggregate principal amount of 8.25% fixed-rate notes due 2020 (the “Notes”) pursuant to an exercise of the underwriters' option to purchase additional notes. On June 28, 2013, Full Circle Capital closed an underwritten public offering of $18.75 million in aggregate principal amount of Notes. The Notes will mature on June 30, 2020 and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after June 30, 2016. Interest will be payable quarterly beginning September 30, 2013.
Full Circle intends to use the net proceeds from the offering 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 described in the prospectus and for general corporate purposes.
The Notes are listed on the NASDAQ Capital Market under the trading symbol "FULLL."
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), and William Blair & Company, LLC acted as joint book-running managers. National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB: NHLD), acted as senior lead manager. Gilford Securities Incorporated, Maxim Group LLC and MLV & Co. LLC acted as lead managers. C&Co/PrinceRidge LLC and Dominick & Dominick LLC acted as co-managers.
Investors are advised to consider carefully the investment objective, risks and charges and expenses of Full Circle before investing. The prospectus, dated June 25, 2013, which has been filed with the Securities and Exchange Commission, contains a description of these matters and other important information about Full Circle and should be read carefully before investing.