This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Fifth Street Senior Floating Rate Corp. Raises $100 Million In Gross Proceeds In Connection With Initial Public Offering Of Common Stock

WHITE PLAINS, N.Y., July 17, 2013 (GLOBE NEWSWIRE) -- Fifth Street Senior Floating Rate Corp. (Nasdaq:FSFR) (the "Company") today announced the closing of its initial public offering of 6,666,668 shares of its common stock at a public offering price of $15.00 per share for total gross proceeds of $100,000,020. The Company has also granted the underwriters an option to purchase up to 1,000,000 additional shares of common stock. The Company intends to use the net proceeds from this offering to make investments in middle market companies in accordance with its investment objective and strategies described in the prospectus and for general working capital purposes.

Morgan Stanley, Deutsche Bank Securities, UBS Investment Bank and Barclays are acting as lead book-running managers for the offering, RBC Capital Markets and Oppenheimer & Co. are acting as joint book-running managers for the offering and Maxim Group LLC, JMP Securities, Ladenburg Thalmann & Co. Inc., Wunderlich Securities and National Securities Corporation are acting as co-managers for the offering.

About Fifth Street Senior Floating Rate Corp.

Fifth Street Senior Floating Rate Corp. is a newly organized business development company that invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, that pay interest at rates which are determined periodically on the basis of a floating base lending rate, made to private middle market companies whose debt is rated below investment grade. The Company's investment objective is to maximize its portfolio's total return by generating current income from its debt investments while seeking to preserve its capital. The Company will be managed by Fifth Street Management LLC, which also manages Fifth Street Finance Corp. (Nasdaq:FSC), a publicly-traded business development company.

Forward-Looking Statements

This press release may contain certain forward-looking statements, including statements with regard to the future performance of the Company. Words such as "believes," "intends," "expects," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and these factors are identified from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Investor Contact:
         Dean Choksi, Senior Vice President of Finance &
         Head of Investor Relations
         Fifth Street Senior Floating Rate Corp.
         (914) 286-6855
         dchoksi@fifthstreetfinance.com
         
         Media Contact:
         James Velgot, Chief Marketing Officer
         Fifth Street Senior Floating Rate Corp.
         (914) 286-6848
         jvelgot@fifthstreetfinance.com

Stock quotes in this article: FSFR 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,389.82 +127.26 0.78%
S&P 500 1,857.51 +14.53 0.79%
NASDAQ 4,074.3180 +40.1570 1.00%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs