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Fifth Street Finance Corp. Raises $181.9 Million In Gross Proceeds In Connection With Public Offering Of Common Stock

WHITE PLAINS, N.Y., Sept. 26, 2013 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (NASDAQ:FSC) ("Fifth Street") today announced that it has 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. 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.

Morgan Stanley, Wells Fargo Securities, Goldman, Sachs & Co., 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 and SMBC Nikko, Maxim Group LLC and National Securities Corporation acted as co-managers for the offering.

About Fifth Street Finance Corp.

Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors. Fifth Street Finance Corp.'s investment objective is to maximize its portfolio's total return by generating current income from its debt investments and capital appreciation from its equity investments.

Forward-Looking Statements

This press release may contain certain forward-looking statements, including statements with regard to the future performance of Fifth Street Finance Corp. 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 Fifth Street Finance Corp.'s filings with the Securities and Exchange Commission. Fifth Street Finance Corp. 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 Finance Corp.
         (914) 286-6855
         dchoksi@fifthstreetfinance.com
         
         Media Contact:
         Nick Rust
         Prosek Partners
         (212) 279-3115 ext. 252
         pro-fifthstreet@prosek.com

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